The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets available on the market in recent years, each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes more crucial. It is the Ellipal digital wallet gadget that keeps the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of rival firms such as TREZOR and Ledger are made in a way that no one outside can view your private key. For example, even if it is possible to connect your TREZOR on a compromised system that has been infected with viruses your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network, 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 choice as it removes the possibility of hackers having an access point to your private keys via an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it’s not combat-tested to date. This is something potential buyers should take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are around for longer and have an established track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add the support of more coins in the near future.
In conclusion it is clear that the Ellipal wallet is a brand new competitor in the hardware wallet market, promising to be completely secure due to its complete separation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with its competitors. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other hardware wallet options before making a choice. The final decision about whether the Ellipal device is well worth the price is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other hardware wallets. Additionally, it’s an extremely new product that’s available.