The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware in recent years. Each promising to keep digital assets safe and secure. The Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets becomes more important. The Ellipal digital wallet device which keeps the private keys to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new 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 claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of competing companies like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised computer that is infected with viruses your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes through cameras on its back of the. This makes it a highly secure choice as it removes the possibility of a hacker getting an access point to your private keys via an internet connection. It’s important to note that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which means that it isn’t tested in battle yet. This is something that potential buyers should be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for a longer time and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding support for more coins in the near future.
In the end In conclusion, the Ellipal wallet has been a brand new competitor in the hardware wallet market and promises to be 100% secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price at $149 is comparable with the other options. Although the idea of a totally separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option with an innovative design, however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product that’s available.