The cryptocurrency market has witnessed a significant rise in the number of hardware wallets on the market in recent years. Each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe the storage and protection of assets is becoming increasingly crucial. The Ellipal digital wallet tool that keeps the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website as well as reviews online claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets of competing companies like TREZOR and Ledger are also designed in a way that no one outside can see your private keys. For example, even if you connect your TREZOR with a compromised device which is infected by viruses, your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker getting an access point to your private keys by the network. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it isn’t tested in battle yet. This is something that potential buyers must be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for a longer time and have a proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is currently working on adding support for more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a brand new player in the market for hardware wallets, promising that it is 100% secure because of its complete separation from any computer or network. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with its competitors. While the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other wallet options before making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly in use as the other wallets, and it’s an all-new product available on the market.