The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware on the market in recent years. Each claims that digital assets will be safe and secure. Its Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency is becoming more widespread, the need for secure storage of digital assets becomes more essential. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews state they are completely safe, however it is important to note that the hardware wallets from rival firms such as TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For example, even if you connect your TREZOR on a compromised system that is infected with viruses Your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes via an image camera at the rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining gain access to private information via a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it isn’t battle-tested yet. This is something prospective buyers must take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for longer and have a an established track record of security.
Regarding support for coins, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add the support of more coins in the future.
In conclusion In conclusion, it is clear that the Ellipal device is an brand new player on the hardware wallet market and promises to be completely secure because of its complete separation from any computer or network. The company behind it is new and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with the other options. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallet options before making a decision. The final decision about whether the Ellipal product is worthwhile for the price is up to the individual. It’s an extremely secure choice with an innovative design, but it’s not as convenient for use like other hardware wallets. Additionally, it’s a relatively new product that’s available.