The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets available in recent years, each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for secure the storage and protection of assets becomes more important. The Ellipal wallet can be described as a device that keeps the private key to digital assets offline, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance its development. The company’s website as well as online reviews state they are completely safe, however it is important to remember that hardware wallets of competing businesses like TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised system that is infected with viruses, your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes via cameras on its rear end. This makes it a highly secure choice as it removes the possibility of a hacker gaining access to the private key through the network. However, it’s worth noting that this could mean 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 costs $149 and is relatively recent to market which implies that it has not been battle-tested yet. This is something prospective buyers should take into consideration when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide support for more coins in the future.
In the end it is clear that the Ellipal wallet is a fresh player on the hardware wallet market and promises that it is 100% safe due to its total isolation from any computer or network. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins, and its price tag at $149 is comparable with its competitors. Although the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the track record and security features of other hardware wallet options before making a choice. The final decision about whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other wallets. It’s also an all-new product on the market.