The cryptocurrency market has seen a significant increase in the number of wallets that are hardware on the market in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for secure storage of digital assets becomes increasingly crucial. The Ellipal wallet can be described as a device which keeps the private keys to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of rival companies such as TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR to a compromised system that is infected with viruses, your private keys are still secure and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using an image camera at the back of the. This makes it a very secure choice as it removes the possibility of hackers getting gain access to private information by the network. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it isn’t tested in battle yet. This is something that potential buyers must take into consideration when buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for a longer time and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to add the support of more coins in the near future.
In conclusion, the Ellipal wallet has been a new player on the market for hardware wallets and promises to be 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is on par with other wallets. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallets prior to making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly to use as other hardware wallets, and it’s an all-new product that’s available.