The cryptocurrency market has witnessed an significant rise in the number of wallets that are hardware in recent years, each promises that digital assets will be safe and secure. Its Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing an entirely separate 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 gadget which keeps the private keys to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR on a compromised device that has been infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining gain access to private information via an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it has not been battle-tested yet. This is something prospective buyers must take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is working to provide more support for coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the market for hardware wallets and promises that it is 100% secure because of its complete inaccessibility to any network or computer. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with its competitors. While the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product on the market.