The cryptocurrency market has seen a significant rise in the number of hardware wallets available in recent years, all claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe the storage and protection of assets is becoming increasingly crucial. Ellipal wallet Ellipal digital wallet device that stores the private key to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews state they are 100% safe, however it is important to note that the hardware wallets of rival businesses like TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For example, even if you connect your TREZOR on a compromised device which is infected by viruses your private keys are still protected and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes using an image camera at the back of the. This makes it a very secure choice as it removes the possibility of hackers having gain access to private information via an internet connection. It’s important to note that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it’s not battle-tested yet. This is something potential buyers should keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have a an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add more support for coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet is a new player in the market for hardware wallets that claims to be completely secure due to its complete separation from any network or computer. The company behind it is new and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price of $149 is on par with its competitors. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other hardware wallets, and it’s an all-new product on the market.