The cryptocurrency market has seen a significant rise in the number of hardware wallets available in recent years. Each claims that digital assets will be safe and secure. Its Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets is becoming increasingly essential. The Ellipal wallet is a tool that stores the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews claim they are completely secure, however, it’s important to remember that hardware wallets from rival firms such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. For example, even if it is possible to connect your TREZOR on a compromised system that has been infected with viruses, your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, 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 option as it eliminates the possibility of hackers having access to the private key by an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something potential buyers must take into consideration when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for a longer time and have a proven track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to provide support for more coins in the future.
In the end, it is clear that the Ellipal device is an new competitor in the market of hardware wallets and promises to be 100% secure because of its complete inaccessibility to any computer or network. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with other wallets. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the track record and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy for use like other wallets. It’s also an extremely new product on the market.