The cryptocurrency market has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, all promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new competitor in the field, and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for safe the storage and protection of assets becomes increasingly important. The Ellipal wallet is a gadget that stores the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website as well as online reviews claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For example, even if you connect your TREZOR to a compromised computer that has been infected with viruses, your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker getting gain access to private information through the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it isn’t tested in battle yet. This is something that potential buyers must be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are on the market for longer and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide the support of more coins in the near future.
In conclusion In conclusion, the Ellipal device is an new player on the market for hardware wallets that claims that it is 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and its price at $149 is comparable with the other options. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallets prior to making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an extremely new product on the market.