The cryptocurrency market has witnessed an significant increase 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 entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for safe storage of digital assets becomes increasingly important. The Ellipal digital wallet gadget that keeps the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state they are 100% secure, however, it’s important to keep in mind that hardware wallets from rival businesses such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised device that has been infected with viruses your private keys are still secure and safe.
Its 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 of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining an access point to your private keys by an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it’s not battle-tested yet. This is something potential buyers must keep in mind when considering purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are around for longer and have an established track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding more support for coins in the future.
In conclusion In conclusion, the Ellipal wallet has been a brand new player on the hardware wallet market and promises to be 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s relatively new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is in line with other wallets. Although the concept of a totally separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallets before making a decision. The final decision about whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly to use as other wallets. It’s also an extremely new product available on the market.