The cryptocurrency market has witnessed a significant increase in the amount 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 entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for secure storage of digital assets becomes increasingly crucial. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets from rival companies such as TREZOR and Ledger are made in a way that no outside attacker can view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised device which is infected by viruses, your private keys will remain safe and secure.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes using an image camera at the rear of the. This makes it a highly safe option since it blocks the possibility of hackers getting access to the private key by an internet connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it’s not combat-tested to date. This is something prospective buyers must take into consideration when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to add support for more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a new player on the market of hardware wallets, promising to be 100% secure because of its complete inaccessibility to any network or computer. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is in line with other wallets. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the history and security measures of other hardware wallets before making a decision. In the end, the decision on whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy to use as other wallets, and it’s an extremely new product that’s available.