The cryptocurrency market has seen a significant increase in the number of wallets that are hardware in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is a new entry into the market and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe security for digital asset storage is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a gadget which keeps the private keys to digital assets indefinitely and prevents hackers from taking 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 its development. The website of the company and its online reviews claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if you connect your TREZOR on a compromised system that has been infected with viruses, your private keys remain secure and safe.
The Ellipal wallet is unique 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 through QR codes via an image camera at the back of the. This makes it a very safe option since it blocks the possibility of a hacker gaining an access point to your private keys through the network. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it has not been combat-tested to date. This is something potential buyers should take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for a longer time and have a proven track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. 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 fresh competitor in the market of hardware wallets and promises that it is 100% secure due to its complete isolation from any computer or network. Ellipal is a company that’s new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is in line with the other options. Although the concept of a fully isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as easy for use like other hardware wallets. It’s also a relatively new product on the market.