The cryptocurrency market has seen a significant increase in the amount of hardware wallets available on the market in recent years, each claims to keep digital assets safe and secure. The Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for secure the storage and protection of assets becomes increasingly essential. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets from rival businesses 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 device that is infected with viruses, your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique 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 using cameras on its rear of the. This makes it a very secure option as it eliminates the possibility of hackers gaining gain access to private information through the network. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it has not been battle-tested yet. This is something prospective buyers must take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for a longer time and have a proven track record of security.
In terms of support for coin, 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 fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is working to add support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a new competitor in the market for hardware wallets and promises that it is 100% secure due to its complete isolation from any network or computer. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with other wallets. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallets before making a choice. The final decision about whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy for use like other wallets, and it’s an all-new product that’s available.