The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available on the market in recent years, each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe security for digital asset storage is becoming increasingly essential. It is the Ellipal wallet is a gadget that stores the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews state they are completely secure, however, it’s important to remember that hardware wallets of rival companies like TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised computer which is infected by viruses, your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes through cameras on its back of the. This makes it a very secure choice as it removes the possibility of a hacker gaining gain access to private information by the network. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it isn’t combat-tested to date. This is something that potential buyers should take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have proven track record of security.
In terms of coin support, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is working to add support for more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet is a fresh player on the market for hardware wallets and promises to be 100% secure because of its complete separation from any network or computer. Ellipal is a company that’s relatively 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 at $149 is comparable with its competitors. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy to use as other hardware wallets. It’s also an extremely new product available on the market.