The cryptocurrency market has seen an significant increase in the number of wallets that are hardware on the market in recent years, each promises to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for secure storage of digital assets becomes more important. 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 hardware wallet is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews state the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of competing firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer that has been infected with viruses Your private keys remain protected and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of hackers getting an access point to your private keys via the network. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it’s not combat-tested to date. This is something prospective buyers must take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been on the market for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet is a brand new competitor in the hardware wallet market that claims to be completely safe due to its total separation from any computer or network. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with other wallets. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallets before making a choice. The final decision about whether or not the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as easy to use as other wallets. It’s also a relatively new product on the market.