The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware in recent years. Each promises that digital assets will be safe and secure. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for safe security for digital asset storage becomes more important. Ellipal wallet Ellipal wallet is a device that stores the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of competing firms like TREZOR and Ledger are made in a way that no outside attacker can view your private key. For instance, even if you connect your TREZOR with a compromised computer that has been infected with viruses, your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes via cameras on its rear end. This makes it a highly safe option since it blocks the possibility of hackers gaining access to the private key via the network. However, it’s important to remember that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it’s not tested in battle yet. This is something that potential buyers must take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for longer and have established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is currently working on adding more support for coins in the future.
In the end In conclusion, the Ellipal wallet has been a new competitor in the market for hardware wallets and promises to be 100% safe due to its total separation from any computer or network. Its creators are new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with other wallets. Although the concept of a fully isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other wallets prior to making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other wallets. It’s also an extremely new product available on the market.