The cryptocurrency market has seen a significant rise in the number of hardware wallets available on the market in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes more crucial. Ellipal wallet Ellipal digital wallet gadget which keeps the private keys to digital assets offline, preventing hackers from stealing them remotely.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and reviews online claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets from rival firms such as TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For instance, even if you connect your TREZOR with a compromised device that is infected with viruses your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes using an image camera at the rear end. This makes it an extremely secure option as it eliminates the possibility of hackers getting gain access to private information via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it’s not combat-tested to date. This is something potential buyers should 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 a longer time and have a an established track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is working to add more support for coins in the future.
In the end, the Ellipal device is an new player in the hardware wallet market, promising to be completely safe due to its total separation from any network or computer. Its creators are relatively 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 at $149 is comparable with the other options. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallets prior to making a decision. The final decision about whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy to use as other hardware wallets. It’s also an extremely new product that’s available.