The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware in recent years, each promises to keep digital assets secure and safe. The Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for secure the storage and protection of assets becomes more essential. The Ellipal wallet can be described as a device that stores the private key 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 the course of an Indiegogo campaign to fund its development. The company’s website and online reviews state the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets from rival businesses such as TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised computer that is infected with viruses Your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes using a camera on the back of the. This makes it a very safe option since it blocks the possibility of hackers gaining access to the private key through a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it isn’t combat-tested to date. This is something potential buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is currently working on adding support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a fresh player on the market of hardware wallets, promising that it is 100% secure due to its complete separation from any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with other wallets. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallets prior to making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s an extremely secure choice with an innovative design, but it’s not as convenient to use as other wallets, and it’s an extremely new product on the market.