The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available in recent years, each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe storage of digital assets is becoming increasingly essential. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets indefinitely, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The company’s website as well as reviews online claim they are completely safe, however it is important to keep in mind that hardware wallets from rival businesses like TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR with a compromised device which is infected by viruses, your private keys remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of hackers having an access point to your private keys by a network connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it’s not battle-tested yet. This is something prospective buyers must take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are in business for a longer time and have a an established track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to provide the support of more coins in the near future.
In the end, it is clear that the Ellipal wallet has been a brand new competitor in the hardware wallet market, promising to be completely secure due to its complete separation from any network or computer. The company behind it is new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is in line with other wallets. Although the concept of a completely isolated hardware wallet is intriguing however, you should consider the track record and security features of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the individual. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other wallets. It’s also an extremely new product on the market.