The cryptocurrency market has seen a significant increase in the amount of hardware wallets in recent years, each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage becomes more important. The Ellipal digital wallet gadget that stores the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website and online reviews state that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of competing firms like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised device that has been infected with viruses, your private keys will remain safe and secure.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of hackers gaining gain access to private information by a network connection. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it isn’t combat-tested to date. This is something prospective buyers should be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are in business for longer and have established track records of security.
In terms of coin support, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add support for more coins in the future.
In conclusion In conclusion, the Ellipal wallet has been a brand new player in the market of hardware wallets and promises to be completely secure because of its complete inaccessibility to any network or computer. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is in line with its competitors. While the idea of a completely separated hardware wallet sounds appealing 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 the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other hardware wallets. It’s also an all-new product available on the market.