The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available in recent years, all promises to keep digital assets secure and safe. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets is becoming increasingly essential. The Ellipal wallet is a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of competing companies like TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. In the event that, for instance, it is possible to connect your TREZOR to a compromised computer which is infected by viruses Your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers gaining an access point to your private keys by a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it’s not combat-tested to date. This is something that potential buyers should be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are on the market for longer and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add support for more coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an fresh player in the market of hardware wallets that claims to be completely safe due to its total separation from any computer or network. Its creators are relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and the price at $149 is comparable with other wallets. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets before making a choice. The final decision about whether the Ellipal wallet is worth the cost 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 to use as other wallets, and it’s an extremely new product on the market.