The cryptocurrency market has seen a significant increase in the amount of hardware wallets on the market 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 is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure security for digital asset storage becomes more essential. It is the Ellipal wallet can be described as a tool that stores the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets from rival businesses such as TREZOR and Ledger are also designed 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 system which is infected by viruses Your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via 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 getting gain access to private information by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it has not been combat-tested to date. This is something potential buyers need to be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been around for a longer time and have a proven 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 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 that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding the support of more coins in the near future.
In conclusion it is clear that the Ellipal wallet is a brand new player on the market of hardware wallets that claims to be 100% secure due to its complete inaccessibility to any network or computer. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with other wallets. Although the idea of a totally isolated hardware wallet is intriguing however, you should consider the track record and security features of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, but it’s not as convenient in use as the other hardware wallets. Additionally, it’s an extremely new product that’s available.