The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available on the market in recent years, all claims that digital assets will be safe and secure. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe the storage and protection of assets is becoming increasingly crucial. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state the hardware wallet as completely secure, but it’s important to remember that hardware wallets from rival businesses like TREZOR and Ledger are constructed in a manner that no one outside can view your private key. In the event that, for instance, you connect your TREZOR on a compromised computer that is infected with viruses Your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its rear end. This makes it a highly secure choice as it removes the possibility of hackers having gain access to private information via an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it isn’t combat-tested to date. This is something prospective buyers need to keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been in business for a longer time and have a proven track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is currently working on adding more support for coins in the future.
In the end it is clear that it is clear that the Ellipal wallet is a new competitor in the market of hardware wallets that claims to be 100% secure due to its complete isolation from any network or computer. The company behind it is relatively new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is in line with its competitors. While the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. Additionally, it’s an extremely new product available on the market.