The cryptocurrency market has witnessed a significant increase in the number of hardware wallets in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure the storage and protection of assets becomes more crucial. It is the Ellipal digital wallet gadget that stores the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews claim the hardware wallet as 100% secure, but it’s important to remember that hardware wallets of competing firms such as TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For example, even if you connect your TREZOR with a compromised system that has been infected with viruses, your private keys are still protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its rear of the. This makes it a very secure option as it eliminates the possibility of hackers having an access point to your private keys through the network. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it has not been battle-tested yet. This is something prospective buyers need to be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have proven 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 only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is working to add more support for coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal device is an brand new player on the hardware wallet market and promises to be 100% secure because of its complete separation from any computer or network. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins and its price of $149 is on par with the other options. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient in use as the other wallets, and it’s a relatively new product that’s available.