The cryptocurrency market has seen an significant increase in the number of hardware wallets in recent years, each promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes increasingly crucial. Ellipal wallet Ellipal wallet is a gadget which keeps the private keys to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to finance its development. The company’s website as well as reviews online claim the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of competing businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. For example, even if it is possible to connect your TREZOR on a compromised system that is infected with viruses your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes using a camera on the back of the. This makes it a highly secure choice as it removes the possibility of hackers gaining gain access to private information via the network. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it isn’t tested in battle yet. This is something potential buyers must be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for a longer time and have a proven track record of security.
In terms of coin support, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add the support of more coins in the near future.
In the end, it is clear that the Ellipal device is an brand new player in the market of hardware wallets, promising that it is 100% safe due to its total separation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and the price at $149 is comparable with other wallets. Although the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other wallet options before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as user-friendly to use as other wallets, and it’s a relatively new product on the market.