The cryptocurrency market has seen an significant increase in the number of wallets that are hardware in recent years, all promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure storage of digital assets becomes increasingly crucial. The Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim they are completely secure, but it’s important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR to a compromised computer that has been infected with viruses your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through cameras on its rear end. This makes it a very secure option as it eliminates the possibility of a hacker getting gain access to private information via a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it has not been combat-tested to date. This is something prospective buyers need to keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for longer and have a established track records of security.
In terms of coin support, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is working to add the support of more coins in the near future.
In conclusion In conclusion, the Ellipal device is an fresh competitor in the hardware wallet market, promising to be 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with the other options. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with a unique design but it’s not as convenient in use as the other hardware wallets. Additionally, it’s a relatively new product that’s available.