The cryptocurrency market has witnessed an significant increase in the number of hardware wallets in recent years, each promising that digital assets will be secure and safe. Its Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets becomes more important. It is the Ellipal digital wallet tool that keeps the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The company’s website as well as reviews online claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. For example, even if you connect your TREZOR on a compromised computer that has been infected with viruses your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes using cameras on its rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers getting an access point to your private keys by an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it’s not battle-tested yet. This is something prospective buyers must keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for longer and have an established track record 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 and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding support for more coins in the near future.
In conclusion it is clear that the Ellipal device is an brand new player on the hardware wallet market that claims to be completely secure due to its complete inaccessibility to any computer or network. Its creators are new, and the product has not been battle-tested 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 totally exclusive hardware wallet is appealing however, you should consider the track record and security features of other hardware wallets prior to making a decision. The final decision about whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other wallets. It’s also a relatively new product that’s available.