The cryptocurrency market has seen a significant increase in the number of wallets that are hardware on the market in recent years, each promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe 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 them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website as well as online reviews state they are 100% secure, but it’s important to remember that hardware wallets from rival companies like TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses Your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes via an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of hackers having gain access to private information by a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it isn’t combat-tested to date. This is something prospective buyers should be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is working to add support for more coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an fresh player in the hardware wallet market that claims that it is 100% safe due to its total isolation from any computer or network. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with the other options. Although the concept of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other wallets, and it’s an extremely new product available on the market.