The cryptocurrency market has seen a significant increase in the amount of hardware wallets on the market in recent years. Each promising to keep digital assets secure and safe. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure security for digital asset storage becomes increasingly important. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews state the hardware wallet as completely secure, but it’s important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if you connect your TREZOR on a compromised system which is infected by viruses your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having gain access to private information by a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it isn’t combat-tested to date. This is something potential buyers need to keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) were on the market for longer and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with 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. However, the company is working to provide support for more coins in the near future.
In the end In conclusion, the Ellipal device is an new competitor in the hardware wallet market and promises that it is 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s relatively new, and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is in line with the other options. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallets before making a choice. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an extremely new product on the market.