The cryptocurrency market has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, all promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe security for digital asset storage becomes more important. Ellipal wallet Ellipal wallet is a device that keeps the private key to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews state that their hardware wallet is completely secure, but it’s important to remember that hardware wallets from rival firms like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR with 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 that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using an image camera at the rear end. This makes it a very safe option since it blocks the possibility of hackers getting an access point to your private keys through an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it has not been battle-tested yet. This is something prospective buyers should be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are around for a longer time and have a an established track record of security.
In terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is working to add more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal device is an fresh player on the market of hardware wallets and promises to be completely secure due to its complete separation from any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with its competitors. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallet options before making a choice. The final decision about whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient in use as the other wallets. Additionally, it’s an all-new product available on the market.