The cryptocurrency market has seen a significant rise in the number of wallets that are hardware on the market in recent years. Each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for safe the storage and protection of assets becomes increasingly essential. It is the Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews claim that their hardware wallet is 100% safe, however it is important to remember that hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised system which is infected by viruses, your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes through an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of hackers having an access point to your private keys via an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it’s not combat-tested to date. This is something potential buyers should be aware of when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been around for longer and have a established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add support for more coins in the near future.
In conclusion, the Ellipal wallet has been a brand new player in the market of hardware wallets and promises to be completely secure due to its complete separation from any network or computer. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is in line with its competitors. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallets before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a very secure option that has a modern design but it’s not as convenient for use like other hardware wallets, and it’s an all-new product on the market.