The cryptocurrency market has seen an significant rise in the number of hardware wallets in recent years. Each claims that digital assets will be secure and safe. Its Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe security for digital asset storage is becoming increasingly crucial. Ellipal wallet Ellipal digital wallet gadget which keeps the private keys to digital assets offline to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website as well as online reviews state the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets from rival companies such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. In the event that, for instance, you connect your TREZOR with a compromised device which is infected by viruses, your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it a very secure option as it eliminates the possibility of hackers getting gain access to private information through the network. It’s important to note that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something prospective buyers should take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been on the market for longer and have an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is currently working on adding more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a fresh player on the hardware wallet market, promising that it is 100% secure due to its complete isolation from any computer or network. Its creators are relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price of $149 is in line with its competitors. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallets prior to making a decision. The final decision about whether the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an all-new product that’s available.