The cryptocurrency market has seen an significant increase in the number of hardware wallets available on the market in recent years. Each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe the storage and protection of assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews state that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of rival firms such as TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For instance, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses, your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining access to the private key via an internet connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it isn’t battle-tested yet. This is something that potential buyers must be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were on the market for a longer time and have a proven 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. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to provide more support for coins in the future.
In the end, the Ellipal wallet has been a brand new player in the market of hardware wallets that claims that it is 100% secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price of $149 is in line with other wallets. Although the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly in use as the other hardware wallets, and it’s a relatively new product available on the market.