The cryptocurrency market has seen an significant increase in the amount of hardware wallets on the market in recent years. Each promising to keep digital assets secure and safe. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe storage of digital assets is becoming increasingly essential. It is the Ellipal wallet can be described as a device that stores the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews claim they are 100% secure, but it’s important to keep in mind that hardware wallets of competing businesses such as TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For instance, even if you connect your TREZOR to a compromised computer that is infected with viruses, your private keys remain secure and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker having an access point to your private keys through a network connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it’s not tested in battle yet. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are on the market 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 the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is currently working on adding support for more coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an new player in the market of hardware wallets that claims that it is 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s new, and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with the other options. Although the concept of a fully isolated hardware wallet is intriguing but it’s crucial to look at the security and track record features of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other wallets. It’s also an all-new product on the market.