The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available in recent years. Each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for secure storage of digital assets is becoming increasingly essential. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets offline, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets from rival companies such as TREZOR and Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, you connect your TREZOR on a compromised device that is infected with viruses, your private keys remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes through cameras on its rear end. This makes it a highly safe option since it blocks the possibility of hackers getting an access point to your private keys through the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it isn’t tested in battle yet. This is something prospective buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are around for a longer time and have a an established track record of security.
In terms of support for coin In terms of 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 amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide the support of more coins in the future.
In conclusion, the Ellipal wallet has been a new competitor in the market of hardware wallets that claims to be 100% secure because of its complete separation from any network or computer. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with its competitors. While the idea of a completely exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option that has a modern design but it’s not as convenient in use as the other wallets, and it’s a relatively new product on the market.