The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available on the market in recent years, all promising to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe storage of digital assets is becoming increasingly important. The Ellipal digital wallet device that stores the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The website of the company and its reviews online claim they are 100% secure, but it’s important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised system which is infected by viruses your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates through QR codes via a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of hackers gaining an access point to your private keys through a network connection. It’s important to note that this means the Ellipal wallet isn’t so 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 relatively recent to market which means that it’s not combat-tested to date. This is something that potential buyers must take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have a an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is working to provide support for more coins in the future.
In conclusion In conclusion, the Ellipal wallet has been a fresh competitor in the hardware wallet market and promises to be 100% safe due to its total isolation from any computer or network. The company behind it is relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with its competitors. While the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option that has a modern design however, it’s not as easy to use as other wallets. Additionally, it’s an extremely new product available on the market.