The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets available on the market in recent years. Each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe storage of digital assets is becoming increasingly important. It is the Ellipal wallet is a tool that keeps the private key to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised system that is infected with viruses Your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker having access to the private key by the network. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it isn’t tested in battle yet. This is something prospective buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to provide the support of more coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet is a brand new competitor in the market for hardware wallets, promising to be completely secure due to its complete separation from any network or computer. Its creators are relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is in line with its competitors. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the track record and security features of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal device is well 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 hardware wallets. It’s also an all-new product available on the market.