The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware on the market in recent years, all promises that digital assets will be safe and secure. The Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure storage of digital assets becomes more essential. The Ellipal digital wallet gadget which keeps the private keys to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets of competing businesses such as TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For example, even if you connect your TREZOR to 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 cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of hackers getting access to the private key by an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it has not been combat-tested to date. This is something prospective buyers must be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have a proven 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 is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide support for more coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a brand new player on the market of hardware wallets that claims to be completely secure because of its complete separation from any network or computer. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price at $149 is comparable with the other options. Although the concept of a fully isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other hardware wallets. It’s also a relatively new product that’s available.