The cryptocurrency market has seen a significant rise in the number of hardware wallets available on the market in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is the latest competitor in the field, and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage becomes more important. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews state they are 100% safe, however it is important to note that the hardware wallets of competing firms such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised device that is infected with viruses, your private keys remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes using cameras on its back of the. This makes it a highly secure option as it eliminates the possibility of hackers getting an access point to your private keys via the network. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it has not been combat-tested to date. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were on the market for longer and have an established track record of security.
Regarding support for coins, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is currently working on adding the support of more coins in the near future.
In the end, the Ellipal wallet has been a new player in the market for hardware wallets and promises to be completely safe due to its total isolation from any computer or network. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and the price at $149 is comparable with its competitors. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as easy to use as other hardware wallets. Additionally, it’s an extremely new product on the market.