The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware on the market in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is the latest entrant in this field and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure storage of digital assets becomes increasingly essential. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR with a compromised device that is infected with viruses your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes using an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker getting gain access to private information through the network. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it isn’t tested in battle yet. This is something potential buyers must be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have established track records of security.
In terms of coin support 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, as well as 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 working to provide more support for coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an new competitor in the hardware wallet market, promising to be completely secure because of its complete separation from any network or computer. Its creators are relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is on par with other wallets. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an extremely new product available on the market.