The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure security for digital asset storage is becoming increasingly crucial. The Ellipal wallet is a tool that keeps the private key to digital assets offline, preventing hackers from stealing their assets 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 fund the development of their product. The website of the company and its online reviews state they are completely secure, however, it’s important to note that the hardware wallets of rival companies like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised device that has been infected with viruses, your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker having an access point to your private keys by a network connection. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it’s not combat-tested to date. This is something that potential buyers should keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have a an established track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding the support of more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a new player on the hardware wallet market that claims that it is 100% safe due to its total separation from any network or computer. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is on par with other wallets. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallets prior to making a decision. The final decision about whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option with a unique design however, it’s not as easy in use as the other wallets, and it’s an extremely new product available on the market.