The world of cryptocurrency has seen an significant increase in the amount of hardware wallets available on the market in recent years. Each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes more crucial. The Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. For instance, even if you connect your TREZOR to a compromised system that has been infected with viruses Your private keys will remain secure and safe.
The 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 communicates through QR codes via an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of hackers gaining gain access to private information through an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it’s not combat-tested to date. This is something prospective buyers need to take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were around for a longer time and have a proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to add support for more coins in the future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the hardware wallet market that claims that it is 100% secure due to its complete separation from any computer or network. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with the other options. Although the concept of a completely isolated hardware wallet is intriguing however, you should consider the security and track record measures of other wallet options before making a choice. The final decision about whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with an innovative design, but it’s not as convenient to use as other hardware wallets, and it’s a relatively new product available on the market.