The cryptocurrency market has witnessed a significant increase in the amount of wallets that are hardware on the market in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for secure the storage and protection of assets becomes more essential. The Ellipal wallet is a device that keeps the private key to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. It raised $55K through an Indiegogo campaign to finance its development. The website of the company and its reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private keys. In the event that, for instance, the TREZOR is connected TREZOR on 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 isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having gain access to private information via a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it’s not tested in battle yet. This is something prospective buyers must keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for a longer time and have a established track records of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is currently working on adding support for more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player on the market for hardware wallets, promising to be 100% secure due to its complete isolation from any computer or network. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and the price at $149 is comparable with the other options. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with a unique design but it’s not as convenient to use as other wallets. Additionally, it’s an all-new product on the market.