The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available in recent years, all claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage becomes more essential. The Ellipal wallet is a device that keeps the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as reviews online claim the hardware wallet as completely secure, but it’s important to note that the hardware wallets of competing companies like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR on a compromised device that is infected with viruses your private keys remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes through cameras on its back of the. This makes it an extremely secure choice as it removes the possibility of hackers getting access to the private key through a network connection. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it’s not tested in battle yet. This is something that potential buyers should keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were around for longer and have a an established track record of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to add more support for coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a brand new player in the hardware wallet market, promising to be 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s new and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price of $149 is in line with the other options. Although the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy to use as other wallets, and it’s a relatively new product on the market.