The cryptocurrency market has seen an significant rise in the number of wallets that are hardware in recent years. Each promising that digital assets will be safe and secure. The Ellipal wallet is a brand new entry into the market and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure storage of digital assets becomes increasingly essential. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets from rival firms such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR with a compromised system that has been infected with viruses, your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes via cameras on its rear end. This makes it a highly safe option since it blocks the possibility of hackers getting an access point to your private keys via the network. However, it’s worth noting that this could mean 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 costs $149 and is relatively new to the market, which implies that it has not been battle-tested yet. This is something potential buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have a an established track record of security.
Regarding support for coins, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add support for more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the hardware wallet market, promising that it is 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is on par with the other options. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other hardware wallets before making a decision. The final decision about whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option with an innovative design, but it’s not as convenient in use as the other wallets. It’s also an all-new product on the market.