The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets available on the market in recent years. Each promises to keep digital assets secure and safe. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure the storage and protection of assets becomes increasingly important. Ellipal wallet Ellipal wallet is a tool that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim that their hardware wallet is completely safe, however it is important to note that the hardware wallets from rival firms such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. In the event that, for instance, it is possible to connect your TREZOR to a compromised device that is infected with viruses, your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the back of the. This makes it a highly secure choice as it removes the possibility of a hacker having gain access to private information via a network connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it’s not combat-tested to date. This is something potential buyers should be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have established track records of security.
Regarding support for coins, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, 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 the Ellipal wallet has been a new player on the hardware wallet market and promises to be completely secure due to its complete isolation from any network or computer. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and its price of $149 is in line with the other options. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other wallets prior to making a choice. 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 very secure option with a unique design however, it’s not as easy to use as other hardware wallets. Additionally, it’s a relatively new product on the market.