The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available in recent years. Each promises to keep digital assets secure and safe. The Ellipal wallet is a new entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe storage of digital assets is becoming increasingly crucial. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. For example, even if you connect your TREZOR to a compromised system which is infected by viruses Your private keys are still safe and secure.
Its Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the rear of the. This makes it an extremely secure choice as it removes the possibility of hackers gaining an access point to your private keys by a network connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it isn’t combat-tested to date. This is something that potential buyers must keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is currently working on adding more support for coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a new player on the market for hardware wallets and promises to be completely secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is on par with the other options. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other wallet options before making a decision. The final decision about whether the Ellipal wallet is worth the price is up to the individual. It’s a safe option with a unique design however, it’s not as user-friendly to use as other wallets. It’s also a relatively new product available on the market.