The cryptocurrency market has seen an significant increase in the number of wallets that are hardware on the market in recent years. Each promises that digital assets will be safe and secure. Its Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure storage of digital assets is becoming increasingly crucial. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state they are completely secure, but it’s important to remember that hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For example, even if it is possible to connect your TREZOR to a compromised system that has been infected with viruses your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the back of the. This makes it a very secure option as it eliminates the possibility of a hacker getting gain access to private information by a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it isn’t combat-tested to date. This is something that potential buyers must take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for longer and have an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. However, 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 device is an brand new competitor in the market for hardware wallets and promises to be completely safe due to its total separation from any computer or network. The company behind it is new and the product has not 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 the other options. Although the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product on the market.