The cryptocurrency market has seen an significant increase in the amount of hardware wallets on the market in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe security for digital asset storage is becoming increasingly crucial. The Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website as well as reviews online claim they are completely secure, but it’s important to keep in mind that hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For example, even if you connect your TREZOR with a compromised device 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 communicates via QR codes using a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of hackers having an access point to your private keys through an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which means that it’s not tested in battle yet. This is something potential buyers should keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for a longer time and have a an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is currently working on adding the support of more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the market for hardware wallets that claims that it is 100% safe due to its total inaccessibility to any computer or network. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is in line with the other options. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the track record and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with a unique design but it’s not as convenient to use as other wallets. Additionally, it’s a relatively new product on the market.