The cryptocurrency market has witnessed a significant rise in the number of hardware wallets in recent years, all claims that digital assets will be safe and secure. The Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure the storage and protection of assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews claim they are 100% secure, however, it’s important to keep in mind that hardware wallets of competing companies like TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR on a compromised device that is infected with viruses, your private keys remain secure and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through an image camera at the back of the. This makes it a highly secure choice as it removes the possibility of hackers gaining an access point to your private keys by an internet connection. It’s important to note that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it’s not battle-tested yet. This is something that potential buyers must take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for longer and have a established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide the support of more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal device is an new competitor in the hardware wallet market that claims that it is 100% secure due to its complete isolation from any computer or network. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is in line with other wallets. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallets prior to making a decision. The final decision about whether the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as user-friendly to use as other wallets, and it’s a relatively new product that’s available.