The cryptocurrency market has witnessed a significant increase in the number of wallets that are hardware on the market in recent years, each claims that digital assets will be safe and secure. The Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for safe storage of digital assets becomes increasingly crucial. The Ellipal wallet is a gadget that stores the private key to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of competing companies such as TREZOR and Ledger are also designed in a way that no one outside can view your private key. For instance, even if you connect your TREZOR with a compromised device that is infected with viruses Your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes using cameras on its back of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining access to the private key through the network. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it has not been battle-tested yet. This is something that potential buyers must keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were around for longer and have established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is working to provide more support for coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a brand new competitor in the hardware wallet market and promises to be 100% secure due to its complete separation from any network or computer. Its creators are relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with other wallets. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the track record and security features of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with a unique design but it’s not as convenient to use as other hardware wallets. Additionally, it’s a relatively new product on the market.