The cryptocurrency market has seen a significant rise in the number of wallets that are hardware in recent years, all promising that digital assets will be safe and secure. The Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure security for digital asset storage becomes increasingly essential. The Ellipal wallet can be described as a device that keeps the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews claim that their hardware wallet is completely safe, however it is important to remember that hardware wallets of rival companies such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if you connect your TREZOR on a compromised system that is infected with viruses Your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it transmits QR codes via an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker gaining an access point to your private keys by an internet connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it’s not battle-tested yet. This is something prospective buyers must take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have established track records of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as 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 might be a worry for some buyers. 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 new player in the hardware wallet market, promising to be completely secure due to its complete isolation from any computer or network. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with other wallets. While the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as easy in use as the other hardware wallets, and it’s a relatively new product that’s available.