The cryptocurrency market has seen a significant rise in the number of wallets that are hardware on the market in recent years. Each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes more important. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of competing businesses like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised system that has been infected with viruses your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes via an image camera at the rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining an access point to your private keys through a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it’s not battle-tested yet. This is something potential buyers should be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been around for a longer time and have a established track records of security.
In terms of support for coin, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to add support for more coins in the future.
In conclusion, the Ellipal wallet has been a brand new competitor in the market of hardware wallets that claims to be completely secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is in line with the other options. Although the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly in use as the other hardware wallets. It’s also a relatively new product that’s available.