The cryptocurrency market has seen an significant increase in the amount of hardware wallets available in recent years. Each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for safe storage of digital assets is becoming increasingly crucial. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The company’s website and online reviews state they are 100% secure, but it’s important to keep in mind that hardware wallets of rival firms such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR to a compromised computer which is infected by viruses, your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes via a camera on the rear end. This makes it a highly safe option since it blocks the possibility of a hacker gaining an access point to your private keys via the network. However, it’s important to remember 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 costs $149 and is relatively recent to market which implies that it’s not tested in battle yet. This is something prospective buyers must keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to add the support of more coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a new player in the market for hardware wallets and promises to be 100% secure due to its complete isolation from any network or computer. 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 only a few coins, and its price tag of $149 is on par with other wallets. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product on the market.