The cryptocurrency market has witnessed a significant rise in the number of hardware wallets in recent years. Each promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for safe storage of digital assets becomes increasingly crucial. The Ellipal wallet is a tool that keeps the private key to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews claim that their hardware wallet is 100% safe, however it is important to note that the hardware wallets of rival companies like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised device which is infected by viruses your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes using an image camera at the rear of the. This makes it a very secure choice as it removes the possibility of a hacker getting gain access to private information by an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it has not been tested in battle yet. This is something potential buyers should take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for longer and have proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding support for more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a brand new competitor in the market of hardware wallets that claims to be completely safe due to its total isolation from any computer or network. Its creators are relatively new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with the other options. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other hardware wallets. It’s also an extremely new product that’s available.