The cryptocurrency market has seen a significant increase in the number of wallets that are hardware on the market in recent years. Each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe security for digital asset storage becomes increasingly essential. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the hardware wallet, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are made in a way 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 computer that has been infected with viruses, your private keys remain protected and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its back of the. This makes it an extremely secure choice as it removes the possibility of hackers getting access to the private key via the network. It’s important to note that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it isn’t combat-tested to date. This is something prospective buyers need to keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for a longer time and have a an established track record of security.
In terms of support for coin, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is working to provide more support for coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal device is an fresh player in the hardware wallet market, promising to be 100% safe due to its total separation from any network or computer. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with other wallets. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as easy for use like other hardware wallets, and it’s an extremely new product on the market.