The cryptocurrency market has witnessed a significant increase in the amount of wallets that are hardware on the market in recent years, all promises to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for secure security for digital asset storage becomes increasingly crucial. It is the Ellipal digital wallet gadget that keeps the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal, the company behind the hardware wallet, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim they are completely secure, but it’s important to note that the hardware wallets of competing companies like TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised system which is infected by viruses, your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it a very secure choice as it removes the possibility of a hacker gaining an access point to your private keys by an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it has not been tested in battle yet. This is something prospective buyers must be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have proven track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to add the support of more coins in the near future.
In conclusion, the Ellipal wallet is a new competitor in the market of hardware wallets that claims that it is 100% safe due to its total separation from any computer or network. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag at $149 is comparable with its competitors. 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. The final decision about whether the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with an innovative design, but it’s not as convenient in use as the other wallets. Additionally, it’s a relatively new product that’s available.