The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets on the market in recent years, all promising that digital assets will be 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 its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal wallet is a tool that keeps the private key to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website and reviews online claim they are completely secure, however, it’s important to keep in mind that hardware wallets from rival companies like TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR with a compromised device which is infected by viruses your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes through a camera on the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining an access point to your private keys through the network. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it has not been battle-tested yet. This is something that potential buyers need to keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have a established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is currently working on adding support for more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet is a new player on the hardware wallet market, promising that it is 100% secure because of its complete isolation from any network or computer. Ellipal is a company that’s new, and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins and the price at $149 is comparable with other wallets. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with a unique design however, it’s not as easy to use as other wallets. Additionally, it’s a relatively new product available on the market.