The cryptocurrency market has seen a significant rise in the number of hardware wallets in recent years, all promises that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure the storage and protection of assets is becoming increasingly important. The Ellipal wallet is a tool that keeps the private key to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews state that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets from rival businesses like TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised computer that has been infected with viruses Your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes using cameras on its rear end. This makes it a highly secure choice as it removes the possibility of a hacker gaining gain access to private information through an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it has not been combat-tested to date. This is something that potential buyers must be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin and 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 future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a fresh player on the market of hardware wallets, promising to be completely safe due to its total separation from any network or computer. Its creators are relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is on par with the other options. While the idea of a totally separated hardware wallet sounds appealing however, you should consider the track record and security measures of other wallets before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s an all-new product that’s available.