The cryptocurrency market has seen a significant rise in the number of hardware wallets available in recent years, all promises to keep digital assets secure and safe. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe storage of digital assets is becoming increasingly essential. It is the Ellipal digital wallet device which keeps the private keys to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim they are 100% safe, however it is important to remember that hardware wallets of rival companies such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised device that has been infected with viruses, your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes via a camera on the back of the. This makes it an extremely secure choice as it removes the possibility of hackers gaining access to the private key through the network. It’s important to note 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 simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it isn’t combat-tested to date. This is something that potential buyers should be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are on the market for a longer time and have a an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding more support for coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an new player on the market of hardware wallets and promises that it is 100% safe due to its total separation from any network or computer. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with other wallets. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly to use as other wallets. It’s also a relatively new product on the market.