The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware on the market in recent years, all promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for secure storage of digital assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet is a gadget that stores the private key to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state they are completely safe, however it is important to note that the hardware wallets from rival businesses like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR to a compromised system which is infected by viruses, your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes via a camera on the rear of the. This makes it a highly secure choice as it removes the possibility of hackers having access to the private key by an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it isn’t battle-tested yet. This is something prospective buyers need to be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were around for longer and have proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount 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 future.
In the end, the Ellipal wallet has been a brand new player on the market for hardware wallets that claims to be completely secure because of its complete separation from any computer or network. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with the other options. Although the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with an innovative design, but it’s not as convenient to use as other wallets. Additionally, it’s a relatively new product available on the market.