The cryptocurrency market has seen a significant rise in the number of hardware wallets on the market in recent years, all promises that digital assets will be secure and safe. Its Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe the storage and protection of assets becomes more crucial. It is the Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund its development. The company’s website as well as online reviews claim that their hardware wallet is completely safe, however it is important to note that the hardware wallets from rival firms such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For example, even if it is possible to connect your TREZOR on a compromised system that is infected with viruses Your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes using a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining an access point to your private keys by the network. It’s important to note that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it isn’t tested in battle yet. This is something that potential buyers must take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were in business for a longer time and have a an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to add more support for coins in the future.
In the end, the Ellipal wallet is a brand new player on the market of hardware wallets that claims to be 100% secure due to its complete inaccessibility to any computer or network. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with its competitors. Although the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other wallets before making a decision. In the end, the decision on whether the Ellipal wallet is worth the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other wallets. It’s also a relatively new product available on the market.