The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available in recent years. Each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets is becoming increasingly crucial. Ellipal wallet Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of rival companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised computer that has been infected with viruses, your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the back of the. This makes it a highly secure choice as it removes the possibility of hackers getting an access point to your private keys through an internet 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 means that it isn’t battle-tested yet. This is something prospective buyers should be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for a longer time and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is working to provide support for more coins in the future.
In the end In conclusion, the Ellipal device is an new player on the market for hardware wallets, promising that it is 100% secure because of its complete isolation from any computer or network. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with other wallets. While the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other hardware wallets before making a choice. The final decision about whether the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly in use as the other hardware wallets, and it’s an all-new product on the market.