The cryptocurrency market has seen a significant increase in the number of hardware wallets available on the market in recent years, each promising that digital assets will be safe and secure. Its Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes more important. The Ellipal wallet is a gadget which keeps the private keys to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website and online reviews claim they are 100% secure, but it’s important to remember that hardware wallets of rival companies like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR to a compromised system that is infected with viruses, your private keys remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of a hacker getting access to the private key by the network. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it isn’t battle-tested yet. This is something that potential buyers should keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are in business for a longer time and have a an established track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is working to add support for more coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh competitor in the market of hardware wallets that claims to be 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with its competitors. While the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other hardware wallets before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient for use like other hardware wallets. Additionally, it’s an extremely new product that’s available.