The cryptocurrency market has witnessed a significant increase in the amount of wallets that are hardware in recent years, all promising that digital assets will be secure and safe. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe storage of digital assets becomes more essential. The Ellipal digital wallet gadget that stores the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state that their hardware wallet is completely safe, however it is important to remember that hardware wallets of competing companies such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. For example, even if you connect your TREZOR with a compromised system that is infected with viruses Your private keys will remain secure and safe.
Ellipal is a unique wallet. 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 connectivity. Instead, it communicates through QR codes via an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of hackers gaining an access point to your private keys through the network. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it’s not combat-tested to date. This is something that potential buyers should be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for a longer time and have a established track records of security.
In terms of support for coin, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is working to add support for more coins in the near future.
In the end In conclusion, the Ellipal wallet is a fresh player in the market of hardware wallets that claims to be completely secure due to its complete isolation from any network or computer. The company behind it is new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price at $149 is comparable with the other options. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with a unique design however, it’s not as user-friendly in use as the other wallets. It’s also an all-new product on the market.