The cryptocurrency market has witnessed a significant rise in the number of hardware wallets in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is a new competitor in the field, and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes increasingly important. The Ellipal wallet can be described as a tool that keeps the private key to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website and reviews online claim they are completely safe, however it is important to keep in mind that hardware wallets from rival companies such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised system that has been infected with viruses Your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through a camera on the rear end. This makes it a very safe option since it blocks the possibility of a hacker having access to the private key through a network connection. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it isn’t combat-tested to date. This is something potential buyers should be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have a established track records of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is working to add the support of more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal device is an fresh player in the market for hardware wallets that claims to be completely safe due to its total inaccessibility to any computer or network. Its creators are relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and the price of $149 is in line with its competitors. Although the idea of a totally separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. It’s also an extremely new product available on the market.