The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is a new entry into the market and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure the storage and protection of assets is becoming increasingly important. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state they are completely secure, however, it’s important to keep in mind that hardware wallets from rival firms like TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR with a compromised device which is infected by viruses, your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of hackers getting an access point to your private keys via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it has not been battle-tested yet. This is something that potential buyers need to keep in mind when considering purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) were around for longer and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is currently working on adding more support for coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an new player on the market of hardware wallets, promising to be 100% safe due to its total inaccessibility to any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with its competitors. Although the concept of a completely isolated hardware wallet is intriguing but it’s crucial to look at the track record and security features of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other wallets. It’s also an all-new product available on the market.