The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available on the market in recent years. Each claims to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure security for digital asset storage is becoming increasingly essential. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets from rival firms such as TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer that is infected with viruses Your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of a hacker getting access to the private key through the network. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it has not been battle-tested yet. This is something potential buyers must keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been around for a longer time and have a proven track record of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to add support for more coins in the near future.
In conclusion it is clear that the Ellipal device is an new player in the market for hardware wallets and promises to be completely secure due to its complete separation from any computer or network. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is in line with the other options. Although the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option that has a modern design but it’s not as convenient to use as other wallets, and it’s an extremely new product available on the market.