The cryptocurrency market has seen an significant rise in the number of hardware wallets available on the market in recent years, each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure the storage and protection of assets becomes more essential. The Ellipal wallet can be described as a tool 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 wallet’s hardware is a relatively young player in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets from rival firms such as TREZOR and Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, you connect your TREZOR on a compromised device that is infected with viruses, your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique 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 via a camera on the rear of the. This makes it a very secure choice as it removes the possibility of a hacker having gain access to private information by the network. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it isn’t combat-tested to date. This is something prospective buyers need to take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for longer and have a an established track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. 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 new competitor in the market for hardware wallets that claims that it is 100% secure because of its complete isolation from any network or computer. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag at $149 is comparable with the other options. Although the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other wallets before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy to use as other hardware wallets. It’s also an all-new product on the market.