The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware on the market in recent years, all promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for safe storage of digital assets is becoming increasingly crucial. The Ellipal digital wallet gadget that stores the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The website of the company and its reviews online claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR on a compromised computer which is infected by viruses your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes through cameras on its rear end. This makes it a very secure choice as it removes the possibility of a hacker getting gain access to private information by an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it isn’t combat-tested to date. This is something that potential buyers must keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding support for more coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a brand new player on the market of hardware wallets, promising that it is 100% secure because of its complete inaccessibility to any network or computer. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with other wallets. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallets before making a decision. The final decision about whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option with a unique design but it’s not as convenient in use as the other wallets, and it’s a relatively new product on the market.