The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware in recent years. Each claims to keep digital assets secure and safe. Its Ellipal wallet is a new entry into the market and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes more crucial. Ellipal wallet Ellipal digital wallet device that keeps the private key to digital assets offline, preventing hackers from stealing them remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The company’s website and online reviews state the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are made in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR to a compromised system that is 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 which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes using a camera on the rear end. This makes it a very safe option since it blocks the possibility of hackers getting an access point to your private keys through a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it has not been combat-tested to date. This is something that potential buyers must be aware of when buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) were around for longer and have a proven track record of security.
In terms of coin support, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the 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 it is clear that the Ellipal wallet has been a new competitor in the market for hardware wallets that claims to be 100% secure due to its complete separation from any network or computer. Its creators are relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with the other options. While the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the security and track record features of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with an innovative design, but it’s not as convenient to use as other wallets. Additionally, it’s a relatively new product that’s available.