The cryptocurrency market has seen a significant rise in the number of hardware wallets on the market in recent years, all claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal wallet is a tool which keeps the private keys to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of competing firms like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For example, even if it is possible to connect your TREZOR on a compromised device that has been infected with viruses your private keys remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes via a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker gaining an access point to your private keys via the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it’s not battle-tested yet. This is something that potential buyers must take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are on the market for a longer time and have a an established track record of security.
In terms of coin support, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add the support of more coins in the near future.
In conclusion, it is clear that the Ellipal wallet has been a new player in the hardware wallet market and promises that it is 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s relatively new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with other wallets. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly in use as the other wallets, and it’s an all-new product that’s available.