The cryptocurrency market has seen a significant increase in the number of hardware wallets on the market in recent years, each claims 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 becomes more mainstream and more commonplace, the need for secure storage of digital assets is becoming increasingly crucial. It is the Ellipal digital wallet device that stores the private key to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website and online reviews claim they are 100% secure, but it’s important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no one outside can see your private keys. In the event that, for instance, you connect your TREZOR on a compromised device that has been infected with viruses, your private keys remain protected and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes via a camera on the 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 important to remember that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it isn’t combat-tested to date. This is something potential buyers need to be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been around for a longer time and have a an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is working to provide support for 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 market for hardware wallets that claims to be 100% safe due to its total isolation from any computer or network. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag at $149 is comparable with the other options. Although the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy for use like other wallets, and it’s an all-new product that’s available.