The cryptocurrency market has seen an significant rise in the number of hardware wallets available on the market in recent years, each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe security for digital asset storage becomes increasingly important. The Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them remotely.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The company’s website and reviews online claim that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses your private keys are still protected and safe.
Its 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 communicates through QR codes using an image camera at the rear end. This makes it an extremely secure option as it eliminates the possibility of hackers gaining access to the private key through a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it has not been tested in battle yet. This is something potential buyers must be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for longer and have a an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few which include 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 may be a concern for some users. The company is working to provide support for more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal device is an new competitor in the market for hardware wallets and promises that it is 100% secure because of its complete separation from any computer or network. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with its competitors. Although the concept of a fully isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other wallet options before making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly for use like other wallets. Additionally, it’s a relatively new product available on the market.