The cryptocurrency market has witnessed a significant increase in the number of hardware wallets on the market in recent years, all promises to keep digital assets safe and secure. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure security for digital asset storage becomes more crucial. The Ellipal wallet is a device which keeps the private keys to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website as well as online reviews state the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of competing firms like TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For example, even if you connect your TREZOR to a compromised system which is infected by viruses your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes using an image camera at the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining an access point to your private keys through the network. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which means that it’s not battle-tested yet. This is something potential buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have established track records of security.
Regarding support for coins, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as 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 customers. But, the company is currently working on adding support for more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a new player on the market of hardware wallets, promising to be completely 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 is currently compatible with the use of a small number of coins, and its price tag of $149 is in line with its competitors. While the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallets before making a decision. The final decision about whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, but it’s not as convenient to use as other wallets, and it’s an extremely new product available on the market.