The cryptocurrency market has seen a significant rise in the number of hardware wallets in recent years, all promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure security for digital asset storage is becoming increasingly important. The Ellipal wallet is a gadget that stores the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new player in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised computer which is infected by viruses Your private keys remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes through an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of a hacker getting gain access to private information via a network connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it isn’t battle-tested yet. This is something that potential buyers must be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been on the market for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to provide the support of more coins in the near future.
In the end, the Ellipal device is an brand new player on the market for hardware wallets and promises that it is 100% secure because of its complete separation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price at $149 is comparable with other wallets. Although the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice with an innovative design, but it’s not as convenient in use as the other hardware wallets, and it’s an extremely new product on the market.