The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware in recent years, each claims to keep digital assets safe and secure. The Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe storage of digital assets is becoming increasingly essential. Ellipal wallet Ellipal wallet is a gadget that stores the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews claim that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets of rival firms such as TREZOR as well as Ledger are made in a way that no one outside can access your private keys. For example, even if you connect your TREZOR with a compromised device that has been infected with viruses, your private keys remain secure and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its rear end. This makes it a very secure option as it eliminates the possibility of a hacker having an access point to your private keys via the network. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it has not been battle-tested yet. This is something prospective buyers should take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been in business for longer 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 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 buyers. The company is working to provide support for more coins in the near future.
In conclusion, the Ellipal wallet is a fresh player on the market of hardware wallets, promising to be 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with other wallets. Although the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the history and security features of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth 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 on the market.