The cryptocurrency market has witnessed an significant rise in the number of hardware wallets on the market in recent years. Each claims to keep digital assets secure and safe. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure storage of digital assets becomes increasingly essential. The Ellipal wallet can be described as a device which keeps the private keys to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised computer that is infected with viruses your private keys are still safe and secure.
Its Ellipal wallet is unique in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes via cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of a hacker getting gain access to private information by a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it has not been battle-tested yet. This is something that potential buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been around for a longer time and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add support for more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal device is an brand new competitor in the market of hardware wallets that claims to be 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with other wallets. Although 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 wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly to use as other hardware wallets, and it’s an all-new product available on the market.