The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available on the market in recent years. Each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and aims to stand out from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe the storage and protection of assets is becoming increasingly important. It is the Ellipal wallet is a device which keeps the private keys to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to finance its development. The website of the company and its online reviews claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets from rival companies such as TREZOR as well as Ledger are made in a way that no one outside can view your private key. For instance, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses Your private keys remain protected and safe.
The 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 using a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having gain access to private information by a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it has not been tested in battle yet. This is something prospective buyers should take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to provide support for more coins in the future.
In the end In conclusion, the Ellipal device is an new competitor in the hardware wallet market, promising to be 100% secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s new, and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with the other options. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the history and security features of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly for use like other wallets. Additionally, it’s an extremely new product that’s available.