The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available on the market in recent years, all claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for safe the storage and protection of assets is becoming increasingly important. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The website of the company and its reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets from rival businesses like TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR with 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 via a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker getting access to the private key by the network. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it has not been combat-tested to date. This is something prospective buyers need to keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are on the market for longer and have a proven track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is working to add support for more coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh competitor in the hardware wallet market and promises to be 100% safe due to its total separation from any computer or network. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price at $149 is comparable with the other options. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallets before making a choice. The final decision about whether or not the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other wallets. Additionally, it’s an all-new product that’s available.