The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available on the market in recent years, all promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure storage of digital assets becomes increasingly essential. The Ellipal wallet is a device that stores the private key to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The company’s website as well as reviews online claim they are 100% safe, however it is important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. In the event that, for instance, it is possible to connect your TREZOR on a compromised system that has been infected with viruses Your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes using an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker getting an access point to your private keys through the network. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it isn’t battle-tested yet. This is something that potential buyers need to keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were in business for longer and have a proven track record of security.
In terms of support for coin, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add the support of more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a brand new competitor in the hardware wallet market that claims to be completely secure due to its complete separation from any network or computer. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with other wallets. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other hardware wallets before making a decision. The final decision about whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. It’s also a relatively new product on the market.