The cryptocurrency market has seen an significant increase in the number of wallets that are hardware in recent years, all promises that digital assets will be secure and safe. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe storage of digital assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of rival firms such as TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR with a compromised device that has been infected with viruses, your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes using a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker getting access to the private key by an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it has not been combat-tested to date. This is something that potential buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for longer and have proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins, 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 might be a worry for some users. But, the company is working to provide more support for coins in the future.
In conclusion In conclusion, it is clear that the Ellipal device is an fresh competitor in the market for hardware wallets that claims to be 100% safe due to its total inaccessibility to any computer or network. Ellipal is a company that’s relatively 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 tag of $149 is on par with its competitors. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost 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 in use as the other hardware wallets. It’s also a relatively new product on the market.