The cryptocurrency market has seen an significant rise in the number of wallets that are hardware on the market in recent years, each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets becomes more crucial. It is the Ellipal digital wallet device which keeps the private keys to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The website of the company and its reviews online claim that their hardware wallet is completely secure, but it’s important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer that is infected with viruses, your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes via a camera on the rear end. This makes it a highly safe option since it blocks the possibility of a hacker gaining 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 as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it isn’t battle-tested yet. This is something prospective buyers should take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for longer and have a an established track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins 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 may be a concern for some buyers. However, the company is working to add support for more coins in the future.
In conclusion In conclusion, the Ellipal wallet is a brand new competitor in the hardware wallet market and promises that it is 100% safe due to its total separation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is in line with other wallets. Although the concept of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other hardware wallets before making a choice. The final decision about whether the Ellipal device is well worth the price is up to the individual. It’s a safe option that has a modern design but it’s not as convenient to use as other wallets, and it’s an all-new product that’s available.