The cryptocurrency market has seen a significant increase in the amount of hardware wallets on the market in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe the storage and protection of assets becomes more crucial. Ellipal wallet Ellipal wallet is a tool that keeps the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim the hardware wallet as completely safe, however it is important to note that the hardware wallets from rival firms like TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. In the event that, for instance, you connect your TREZOR on a compromised system that is infected with viruses, your private keys will remain protected and safe.
The Ellipal wallet is unique 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 cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having gain access to private information through the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it isn’t battle-tested yet. This is something potential buyers must keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add support for more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a brand new player in the hardware wallet market that claims that it is 100% secure because of its complete inaccessibility to any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is on par with its competitors. Although the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other wallets, and it’s a relatively new product available on the market.