The cryptocurrency market has witnessed a significant increase in the number of hardware wallets on the market in recent years. Each promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes more essential. Ellipal wallet Ellipal wallet can be described as a tool that stores the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews claim the hardware wallet as completely secure, but it’s important to note that the hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. In the event that, for instance, you connect your TREZOR to a compromised device that is infected with viruses, your private keys will remain protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes using a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers gaining an access point to your private keys via an internet connection. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it’s not combat-tested to date. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been on the market for a longer time and have a an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide more support for coins in the future.
In conclusion it is clear that the Ellipal device is an brand new competitor in the market for hardware wallets and promises to be completely secure due to its complete inaccessibility to any computer or network. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and its price of $149 is on par with other wallets. Although the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallet options before making a decision. The final decision about whether the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly in use as the other wallets. It’s also an extremely new product that’s available.