The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware in recent years. Each promises 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 its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe storage of digital assets becomes increasingly crucial. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if you connect your TREZOR to a compromised system which is infected by viruses, your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes through a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker getting gain access to private information through an internet connection. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it’s not combat-tested to date. This is something that potential buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have proven track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add more support for coins in the near future.
In conclusion, it is clear that the Ellipal wallet is a brand new player on the market for hardware wallets and promises to be completely secure because of its complete inaccessibility to any computer or network. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with its competitors. Although the idea of a totally isolated hardware wallet is intriguing, 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 device is well worth the price is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy for use like other hardware wallets. Additionally, it’s an extremely new product available on the market.