The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware on the market in recent years, each promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets becomes more important. The Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, you connect your TREZOR to a compromised system that has been infected with viruses, your private keys remain protected and safe.
The Ellipal wallet is distinctive 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 a camera on the back of the. This makes it a highly secure choice as it removes the possibility of hackers having gain access to private information via an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it isn’t battle-tested yet. This is something that potential buyers must be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been around for a longer time and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is currently working on adding more support for coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an fresh player on the market of hardware wallets that claims to be 100% secure due to its complete inaccessibility to any network or computer. Its creators are new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with its competitors. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as user-friendly for use like other wallets, and it’s a relatively new product available on the market.