The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets available on the market in recent years, each promises that digital assets will be safe and secure. Its Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure security for digital asset storage becomes increasingly crucial. Ellipal wallet Ellipal wallet is a gadget that keeps the private key to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews state that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of rival firms such as TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR on a compromised system that is infected with viruses Your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes via an image camera at the rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker having gain access to private information by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it isn’t tested in battle yet. This is something potential buyers need to keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have proven track record of security.
In terms of coin support, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide more support for coins in the near future.
In conclusion, the Ellipal device is an brand new competitor in the hardware wallet market, promising to be 100% secure due to its complete separation from any network or computer. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is in line with other wallets. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other wallets, and it’s an all-new product available on the market.