The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware 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 aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for safe the storage and protection of assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews state they are 100% safe, however it is important to note that the hardware wallets of rival firms like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For example, even if the TREZOR is connected TREZOR with a compromised computer that is infected with viruses your private keys will remain protected 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 communicates via QR codes using cameras on its rear end. This makes it a highly safe option since it blocks the possibility of hackers gaining an access point to your private keys by the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it has not been combat-tested to date. This is something potential buyers need to take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are in business for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is currently working on adding more support for coins in the near future.
In the end In conclusion, the Ellipal device is an fresh player in the hardware wallet market, promising to be 100% secure because of its complete isolation from any computer or network. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is in line with other wallets. Although the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the track record and security features of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as user-friendly to use as other wallets. Additionally, it’s a relatively new product that’s available.