The cryptocurrency market has seen a significant increase in the amount of hardware wallets in recent years, all promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe security for digital asset storage is becoming increasingly important. It is the Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state they are 100% secure, however, it’s important to note that the hardware wallets of competing firms such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device that is infected with viruses, your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes through a camera on the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker having access to the private key through an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it’s not battle-tested yet. This is something that potential buyers must be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for a longer time and have a established track records of security.
In terms of support for coin, the Ellipal wallet is currently able to support only a small number of coins, including 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. The company is working to add the support of more coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet is a fresh player on the market of hardware wallets, promising to be 100% safe due to its total isolation from any computer or network. Its creators are new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with other wallets. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the track record and security measures of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is entirely up to the user. It’s a very secure option that has a modern design but it’s not as convenient in use as the other wallets. It’s also an all-new product available on the market.