The cryptocurrency market has witnessed an significant increase in the number of hardware wallets on the market in recent years, all claims that digital assets will be safe and secure. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure the storage and protection of assets becomes more essential. The Ellipal wallet is a device that keeps the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. They raised $55K in an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets of competing firms like TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised device that has been infected with viruses Your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it a very safe option since it blocks the possibility of a hacker getting gain access to private information through an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it isn’t tested in battle yet. This is something prospective buyers must be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have a proven track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is currently working on adding the support of more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the hardware wallet market and promises to be 100% secure due to its complete inaccessibility to any network or computer. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with its competitors. Although the concept 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 or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option that has a modern design but it’s not as convenient in use as the other wallets. It’s also an extremely new product that’s available.