The cryptocurrency market has seen a significant increase in the amount 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 the latest entry into the market and aims to stand out from its competitors by offering a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for safe security for digital asset storage is becoming increasingly crucial. It is the Ellipal wallet is a gadget that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The company’s website and reviews online claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets from rival firms like TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised system 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 unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker having gain access to private information through the network. It’s important to note that this means the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it’s not tested in battle yet. This is something potential buyers must be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) were in business for longer and have a established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to add more support for coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a fresh player on the market for hardware wallets that claims to be 100% secure because of its complete inaccessibility to any network or computer. Its creators are new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is on par with its competitors. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient in use as the other wallets. Additionally, it’s an extremely new product available on the market.