The cryptocurrency market has seen an significant rise in the number of hardware wallets available in recent years, all promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal wallet is a 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 finance its development. The website of the company and its reviews online claim they are 100% secure, however, it’s important to remember that hardware wallets from rival firms like TREZOR and Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, you connect your TREZOR with a compromised system that has been infected with viruses your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting an access point to your private keys through an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it isn’t battle-tested yet. This is something potential buyers should be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are in business for a longer time and have a proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to add support for more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a brand new player in the hardware wallet market and promises to be completely secure because of its complete inaccessibility to any computer or network. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins and the price of $149 is in line with the other options. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other 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 safe option with a unique design however, it’s not as user-friendly to use as other wallets. Additionally, it’s an all-new product on the market.