The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available on the market in recent years. Each promising that digital assets will be secure and safe. The Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure security for digital asset storage becomes more essential. Ellipal wallet Ellipal wallet can be described as a tool that stores the private key to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The company’s website and reviews online claim the hardware wallet as completely secure, but it’s important to remember that hardware wallets of competing companies like TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR to a compromised system that has been infected with viruses your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes through cameras on its back of the. This makes it an extremely secure choice as it removes the possibility of hackers getting gain access to private information by an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it isn’t tested in battle yet. This is something that potential buyers must be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have 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 only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower 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 currently working on adding support for more coins in the future.
In conclusion, the Ellipal device is an brand new competitor in the market for hardware wallets, promising to be 100% safe due to its total isolation from any computer or network. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with other wallets. Although the idea of a totally isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallet options before making a choice. The final decision about whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s an extremely secure choice with an innovative design, but it’s not as convenient for use like other hardware wallets. Additionally, it’s an all-new product available on the market.