The cryptocurrency market has seen a significant increase in the number of hardware wallets available on the market in recent years. Each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for safe the storage and protection of assets becomes more essential. The Ellipal wallet is a tool that keeps the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website and reviews online claim they are 100% safe, however it is important to keep in mind that hardware wallets from rival firms such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR to a compromised system that is infected with viruses, your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes through an image camera at the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker getting access to the private key through a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it’s not combat-tested to date. This is something prospective buyers should keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were in business for longer and have a proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is working to provide more support for coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet is a new player in the hardware wallet market, promising to be 100% safe due to its total inaccessibility to any computer or network. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is in line with other wallets. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other hardware wallets. It’s also a relatively new product that’s available.