The cryptocurrency market has seen a significant increase in the number of hardware wallets available on the market in recent years, each promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets is becoming increasingly essential. The Ellipal wallet is a device which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. It raised $55K through an Indiegogo campaign to fund its development. The company’s website and online reviews claim they are completely secure, but it’s important to remember that hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For instance, even if you connect your TREZOR to a compromised device that is infected with viruses your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining an access point to your private keys through the network. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something that potential buyers must take into consideration when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been around for a longer time and have a an established track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin and 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. But, the company is working to add the support of more coins in the near future.
In conclusion In conclusion, the Ellipal device is an fresh player in the market of hardware wallets, promising that it is 100% secure because of its complete isolation from any computer or network. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with the other options. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the track record and security features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product available on the market.