The cryptocurrency market has witnessed a significant increase in the number of wallets that are hardware on the market in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is the latest entry into the market and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure security for digital asset storage is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website and reviews online claim that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets from rival companies such as TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For example, even if you connect your TREZOR to a compromised system that has been infected with viruses your private keys are still protected and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes using cameras on its rear end. This makes it a very secure choice as it removes the possibility of hackers having an access point to your private keys via a network connection. It’s important to note that this also means that 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 fairly new to the market, which implies that it has not been battle-tested yet. This is something that potential buyers must keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for a longer time and have a proven 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 supports the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide more support for coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an new competitor in the market of hardware wallets, promising that it is 100% secure because of its complete separation from any network or computer. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with other wallets. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallets before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as easy to use as other hardware wallets. It’s also an all-new product on the market.