The world of cryptocurrency has seen a significant increase in the number of hardware wallets on the market in recent years, all promising that digital assets will be secure and safe. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes more important. The Ellipal wallet is a gadget that stores the private key to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews claim they are completely secure, however, it’s important to remember that hardware wallets of rival firms such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised device that has been infected with viruses, your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker having gain access to private information via a network connection. It’s important to note that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it isn’t battle-tested yet. This is something prospective buyers must be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for a longer time and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is currently working on adding the support of more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new player in the hardware wallet market, promising to be completely secure due to its complete isolation from any computer or network. Its creators are relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with the other options. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the security and track record measures of other wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as easy to use as other wallets, and it’s an all-new product that’s available.