The world of cryptocurrency has seen a significant increase in the number of hardware wallets available in recent years, each promises to keep digital assets secure and safe. The Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets is becoming increasingly important. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. It raised $55K through an Indiegogo campaign to fund its development. The company’s website as well as online reviews state they are 100% secure, but it’s important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised computer which is infected by viruses Your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining access to the private key via an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it has not been tested in battle yet. This is something potential buyers must keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for a longer time and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide support for more coins in the future.
In the end, the Ellipal wallet has been a new player on the hardware wallet market that claims that it is 100% safe due to its total separation 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 supports a limited number of coins and the price at $149 is comparable with its competitors. Although the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security features of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option with a unique design however, it’s not as easy to use as other wallets. It’s also an all-new product available on the market.