The cryptocurrency market has seen an significant increase in the number of wallets that are hardware on the market in recent years. Each promising to keep digital assets safe and secure. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure the storage and protection of assets becomes increasingly essential. The Ellipal digital wallet gadget that stores the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The website of the company and its online reviews state that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of competing firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. For example, even if you connect your TREZOR on a compromised system which is infected by viruses, your private keys are still secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting gain access to private information via a network connection. It’s important to note that this also means 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 costs $149 and is fairly new to the market, which means that it’s not combat-tested to date. This is something potential buyers should keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have proven track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to add support for more coins in the future.
In conclusion, the Ellipal wallet is a brand new player in the market of hardware wallets, promising that it is 100% safe due to its total isolation from any computer or network. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is on par with other wallets. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallet options before making a choice. The final decision about whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy in use as the other hardware wallets. It’s also an extremely new product available on the market.