The cryptocurrency market has seen a significant increase in the amount of hardware wallets available on the market in recent years, all promising that digital assets will be secure and safe. Its Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for safe security for digital asset storage becomes more important. Ellipal wallet Ellipal wallet is a gadget that keeps the private key to digital assets offline, preventing hackers from stealing them remotely.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews claim the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For instance, even if you connect your TREZOR on a compromised computer that is infected with viruses, your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the 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. It’s important to note that this means the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it’s not battle-tested yet. This is something that potential buyers need to take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are in business for longer and have an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding more support for coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal device is an brand new competitor in the hardware wallet market, promising to be completely safe due to its total separation from any network or computer. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with its competitors. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as user-friendly in use as the other wallets, and it’s a relatively new product available on the market.