The cryptocurrency market has seen an significant increase in the amount of hardware wallets on the market in recent years, all promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for secure storage of digital assets becomes more crucial. It is the Ellipal wallet is a device that stores the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state that their hardware wallet is completely secure, but it’s important to remember that hardware wallets of competing firms like TREZOR and Ledger are made in a way that no one outside can view your private key. For instance, even if it is possible to connect your TREZOR on a compromised computer which is infected by viruses, your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes using cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of a hacker getting an access point to your private keys by the network. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which means that it isn’t battle-tested yet. This is something potential buyers must take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were around for a longer time and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is currently working on adding support for more coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh competitor in the hardware wallet market that claims to be completely safe due to its total isolation from any computer or network. 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 its price tag at $149 is comparable with other wallets. Although the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other wallets prior to making a decision. In the end, the decision on whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy for use like other hardware wallets, and it’s an all-new product available on the market.