The cryptocurrency market has witnessed a significant increase in the number of hardware wallets on the market in recent years, all promising to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure security for digital asset storage is becoming increasingly crucial. The Ellipal wallet is a gadget which keeps the private keys to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews claim they are completely safe, however it is important to remember that hardware wallets of rival firms like TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if you connect your TREZOR with a compromised system which is infected by viruses, your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes via a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker getting an access point to your private keys by the network. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it has not been battle-tested yet. This is something potential buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were around for a longer time and have a proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide more support for coins in the future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an brand new player in the hardware wallet market that claims to be completely secure due to its complete isolation from any computer or network. Its creators are new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and the price at $149 is comparable with the other options. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the track record and security features of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with an innovative design, but it’s not as convenient in use as the other hardware wallets. Additionally, it’s an all-new product available on the market.