The cryptocurrency market has witnessed a significant increase in the number of hardware wallets on the market in recent years, all promises that digital assets will be safe and secure. The Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe the storage and protection of assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews state that their hardware wallet is completely safe, however it is important to note that the hardware wallets from rival businesses such as TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, you connect your TREZOR to a compromised system that is infected with viruses Your private keys are still protected and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes using an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of hackers gaining gain access to private information via the network. However, it’s important to remember that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it isn’t battle-tested yet. This is something prospective buyers should keep in mind when considering purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for a longer time and have a an established track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is working to add the support of more coins in the near future.
In the end it is clear that the Ellipal device is an fresh player on the market for hardware wallets that claims that it is 100% secure due to its complete isolation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is in line with other wallets. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option with an innovative design, but it’s not as convenient for use like other hardware wallets, and it’s an extremely new product that’s available.