The cryptocurrency market has seen a significant increase in the number of hardware wallets in recent years. Each promising to keep digital assets safe and secure. The Ellipal wallet is a brand new entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets is becoming increasingly essential. The Ellipal wallet is a gadget that stores the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised device that has been infected with viruses Your private keys will remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of a hacker gaining access to the private key via the network. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it isn’t combat-tested to date. This is something prospective buyers must take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is currently working on adding more support for coins in the near future.
In conclusion, it is clear that the Ellipal wallet has been a brand new competitor in the hardware wallet market, promising to be 100% secure because of its complete inaccessibility to any computer or network. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price at $149 is comparable with its competitors. Although the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallets prior to making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy to use as other hardware wallets. Additionally, it’s a relatively new product that’s available.