The cryptocurrency market has seen an significant rise in the number of hardware wallets available on the market in recent years. Each claims to keep digital assets secure and safe. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure the storage and protection of assets becomes more essential. The Ellipal wallet is a tool that stores the private key to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new player in the market. It raised $55K through an Indiegogo campaign to finance its development. The website of the company and its online reviews state that their hardware wallet is completely secure, but it’s important to keep in mind that hardware wallets of rival firms such as TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For example, even if the TREZOR is connected TREZOR with a compromised device that is 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 through QR codes through an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting an access point to your private keys through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it’s not tested in battle yet. This is something prospective buyers must be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for a longer time and have a proven track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is working to add the support of more coins in the future.
In the end, it is clear that the Ellipal wallet is a brand new player in the market for hardware wallets and promises to be 100% secure due to its complete separation from any network or computer. Ellipal is a company that’s new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with the other options. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the history and security features of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as easy in use as the other wallets. It’s also an all-new product available on the market.