The cryptocurrency market has seen a significant increase in the number of hardware wallets available in recent years, each promising that digital assets will be safe and secure. The Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe the storage and protection of assets becomes more important. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund its development. The website of the company and its online reviews claim they are 100% secure, but it’s important to note that the hardware wallets from rival businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if the TREZOR is connected TREZOR with a compromised device that is infected with viruses your private keys will remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes using an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of hackers having an access point to your private keys by a network connection. 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 can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it has not been combat-tested to date. This is something that potential buyers should keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for a longer time and have a proven track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. However, the company is working to provide more support for coins in the future.
In the end In conclusion, the Ellipal device is an new player in the hardware wallet market that claims to be 100% safe due to its total isolation from any computer or network. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is on par with its competitors. Although the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as user-friendly to use as other wallets, and it’s an all-new product available on the market.