The cryptocurrency market has seen an significant increase in the amount of hardware wallets available on the market in recent years, each promising that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure the storage and protection of assets becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews state they are 100% safe, however it is important to note that the hardware wallets from rival companies such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised device which is infected by 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 connectivity. Instead, it communicates via QR codes via a camera on the rear of the. This makes it a highly secure option as it eliminates the possibility of hackers getting gain access to private information by a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it isn’t tested in battle yet. This is something potential buyers need to keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have an established track record of security.
Regarding support for coins, the Ellipal wallet currently supports a limited number of coins 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 might be a worry for some buyers. But, the company is working to add the support of more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the hardware wallet market, promising that it is 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with the other options. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option with a unique design however, it’s not as easy to use as other wallets. Additionally, it’s a relatively new product available on the market.