The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware on the market in recent years. Each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure the storage and protection of assets is becoming increasingly important. Ellipal wallet Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR to a compromised device that has been infected with viruses Your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes through an image camera at the back of the. This makes it a very safe option since it blocks the possibility of a hacker getting access to the private key by a network connection. It’s important to note that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it isn’t combat-tested to date. This is something that potential buyers should keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have a proven track record of security.
In terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is currently working on adding more support for coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the hardware wallet market and promises that it is 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is in line with other wallets. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other wallet options before making a choice. The final decision about whether the Ellipal wallet is worth the price is up to the individual. It’s a safe option with a unique design however, it’s not as user-friendly for use like other hardware wallets. Additionally, it’s an all-new product available on the market.