The cryptocurrency market has witnessed an significant rise in the number of wallets that are hardware on the market in recent years. Each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure the storage and protection of assets becomes increasingly crucial. It is the Ellipal wallet is a gadget which keeps the private keys to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website and reviews online claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised computer which is infected by viruses Your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes through an image camera at the back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having an access point to your private keys through an internet connection. It’s important to note 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 to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which means that it isn’t tested in battle yet. This is something that potential buyers should keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are on the market for longer and have an established track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is currently working on adding support for more coins in the future.
In conclusion it is clear that the Ellipal wallet has been a new player on the hardware wallet market, promising that it is 100% secure due to its complete isolation from any network or computer. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is in line with the other options. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets before making a choice. The final decision about whether or not the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice with an innovative design, but it’s not as convenient to use as other hardware wallets. Additionally, it’s a relatively new product available on the market.