The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets in recent years. Each promises that digital assets will be secure and safe. Its Ellipal wallet is a new entrant in this field and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure storage of digital assets becomes more crucial. The Ellipal wallet is a tool that keeps the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets of competing companies such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised computer which is infected by viruses, your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via cameras on its back of the. This makes it a very safe option since it blocks the possibility of hackers getting gain access to private information through the network. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it isn’t battle-tested yet. This is something potential buyers must be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to provide support for more coins in the future.
In the end In conclusion, the Ellipal wallet is a new player in the market for hardware wallets that claims that it is 100% secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with the other options. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other hardware wallets before making a decision. The final decision about whether the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s an all-new product that’s available.