The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available in recent years, all claims that digital assets will be secure and safe. The Ellipal wallet is a brand new entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe the storage and protection of assets becomes more important. The Ellipal wallet can be described as a device that keeps the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim they are 100% safe, however it is important to note that the hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. In the event that, for instance, you connect your TREZOR on a compromised computer which is infected by viruses Your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it a highly safe option since it blocks the possibility of hackers having access to the private key via the network. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it’s not tested in battle yet. This is something prospective buyers must take into consideration when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are in business for longer and have proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to provide support for more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a new player in the market for hardware wallets, promising to be completely safe due to its total isolation from any computer or network. Ellipal is a company that’s 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 its price tag at $149 is comparable with other wallets. Although the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a decision. The final decision about whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option that has a modern design but it’s not as convenient for use like other wallets, and it’s a relatively new product that’s available.