The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware in recent years, all promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe storage of digital assets is becoming increasingly important. The Ellipal wallet is a gadget that keeps the private key to digital assets indefinitely, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews state they are completely safe, however it is important to remember that hardware wallets of competing firms like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised device that has been infected with viruses, your private keys will remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes via cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of hackers gaining an access point to your private keys by a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it isn’t battle-tested yet. This is something prospective buyers must be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for a longer time and have a an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an fresh player on the hardware wallet market, promising to be completely secure because of its complete inaccessibility to any computer or network. The company behind it is new, and the product has not been battle-tested as of 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. Although the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other wallets before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an all-new product available on the market.