The cryptocurrency market has seen a significant rise in the number of hardware wallets in recent years. Each promises 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 the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure the storage and protection of assets is becoming increasingly crucial. The Ellipal wallet is a gadget that stores the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state they are 100% safe, however it is important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if the TREZOR is connected TREZOR with a compromised system which is infected by viruses, your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker getting access to the private key through an internet connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it isn’t battle-tested yet. This is something prospective buyers need to keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been in business for longer and have a an established track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide the support of more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the hardware wallet market and promises to be completely safe due to its total separation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with other wallets. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the history and security features of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an all-new product available on the market.