The cryptocurrency market has seen a significant increase in the amount of hardware wallets available in recent years, each promising that digital assets will be secure and safe. The Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for secure storage of digital assets becomes increasingly important. The Ellipal digital wallet 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 company on the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no one outside can view your private key. In the event that, for instance, the TREZOR is connected TREZOR with a compromised system that is infected with viruses your private keys remain secure and safe.
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 via QR codes via a camera on the back of the. This makes it a very safe option since it blocks the possibility of hackers getting access to the private key through the network. It’s important to note that this means the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it isn’t combat-tested to date. This is something prospective buyers need to be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for a longer time and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small 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 might be a worry for some users. However, the company is working to add more support for coins in the near future.
In the end In conclusion, the Ellipal wallet has been a brand new player in the market of hardware wallets and promises that it is 100% secure due to its complete isolation from any computer or network. Its creators are relatively new, and the product has not been tested in battle 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 fully exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets prior to making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option with a unique design however, it’s not as easy for use like other hardware wallets, and it’s an extremely new product on the market.