The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets on the market in recent years, each claims that digital assets will be safe and secure. The Ellipal wallet is a new entrant in this field and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for safe security for digital asset storage becomes more important. Ellipal wallet Ellipal digital wallet gadget that keeps the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets from rival businesses like TREZOR and Ledger are also designed in a way that no one outside can see your private keys. In the event that, for instance, you connect your TREZOR to a compromised device which is infected by viruses your private keys remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes via an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker gaining gain access to private information by the network. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it isn’t combat-tested to date. This is something prospective buyers must keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer 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 supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a fresh player in the hardware wallet market, promising to be completely secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price at $149 is comparable with its competitors. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy to use as other hardware wallets. Additionally, it’s an extremely new product available on the market.