The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets in recent years, all promising to keep digital assets 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 a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for secure storage of digital assets becomes increasingly crucial. Ellipal wallet Ellipal wallet can be described as a tool that keeps the private key to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website as well as reviews online claim that their hardware wallet is completely safe, however it is important to remember that hardware wallets from rival firms such as TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised system that is infected with viruses your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the rear of the. This makes it a very secure choice as it removes the possibility of a hacker getting gain access to private information by the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which means that it’s not combat-tested to date. This is something potential buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been in business for a longer time and have a an established track record of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide the support of more coins in the future.
In the end it is clear that the Ellipal device is an brand new competitor 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 relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with its competitors. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as user-friendly for use like other wallets. Additionally, it’s an all-new product that’s available.