The cryptocurrency market has seen an significant increase in the amount of hardware wallets in recent years. Each promises to keep digital assets safe and secure. Its Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe storage of digital assets is becoming increasingly important. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The website of the company and its reviews online claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of competing businesses like TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device that has been infected with viruses your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of hackers having gain access to private information by an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it isn’t tested in battle yet. This is something potential buyers need to keep in mind when considering purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have established track records of security.
In terms of coin support, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide more support for coins in the future.
In the end it is clear that the Ellipal wallet is a fresh player in the hardware wallet market that claims that it is 100% secure because of its complete isolation from any network or computer. The company behind it is new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with other wallets. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design but it’s not as convenient in use as the other wallets, and it’s an extremely new product available on the market.