The cryptocurrency market has seen an significant increase in the number of hardware wallets available in recent years, each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe storage of digital assets becomes increasingly important. It is the Ellipal wallet is a device that keeps the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR with a compromised device that is infected with viruses, your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of hackers gaining an access point to your private keys by the network. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it’s not battle-tested yet. This is something potential buyers should take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are in business for longer and have established track records of security.
In terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add more support for coins in the near future.
In conclusion, the Ellipal wallet is a new player in the hardware wallet market, promising to be completely secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and its price of $149 is on par with other wallets. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other wallets before making a decision. 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 but it’s not as convenient for use like other hardware wallets. Additionally, it’s an all-new product on the market.