The cryptocurrency market has seen a significant rise in the number of hardware wallets on the market in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is the latest entrant in this field and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure security for digital asset storage becomes increasingly essential. The Ellipal digital wallet gadget that stores the private key to digital assets indefinitely, preventing hackers from stealing them remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews claim the hardware wallet as 100% safe, however it is important to remember that hardware wallets of rival firms like TREZOR as well as Ledger are made in a way that no one outside can access your private keys. For example, even if you connect your TREZOR with a compromised system that has been infected with viruses your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes through an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of hackers having an access point to your private keys by the network. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it has not been battle-tested yet. This is something prospective buyers should keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are around for longer and have established track records of security.
In terms of coin support, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is working to add more support for coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a fresh player on the hardware wallet market, promising that it is 100% secure because of its complete inaccessibility to any network or computer. The company behind it is relatively new, and the product has not been battle-tested 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 concept of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallets prior to making a choice. The final decision about whether the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other wallets, and it’s an extremely new product that’s available.