The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available on the market in recent years, all promises to keep digital assets secure and safe. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe security for digital asset storage becomes more crucial. It is the Ellipal wallet is a device which keeps the private keys to digital assets offline, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews claim they are 100% secure, however, it’s important to remember that hardware wallets of rival companies like TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR on a compromised computer that is infected with viruses your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it a very safe option since it blocks the possibility of a hacker having an access point to your private keys via the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it’s not battle-tested yet. This is something potential buyers need to be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have a an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to provide the support of more coins in the future.
In conclusion In conclusion, the Ellipal wallet is a new player on the market for hardware wallets, promising to be completely safe due to its total inaccessibility to any network or computer. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins, and its price tag at $149 is comparable with the other options. While the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security features of other hardware wallet options before making a decision. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s an extremely new product on the market.