The cryptocurrency market has witnessed a significant increase in the number of hardware wallets in recent years. Each promising to keep digital assets secure and safe. The Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure the storage and protection of assets is becoming increasingly important. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets from rival companies such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. In the event that, for instance, you connect your TREZOR with a compromised system which is infected by viruses your private keys remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes using a camera on the rear of the. This makes it a highly safe option since it blocks the possibility of hackers getting gain access to private information via a network connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it’s not battle-tested yet. This is something prospective buyers need to keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been around for a longer time and have a proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is currently working on adding the support of more coins in the near future.
In the end In conclusion, the Ellipal wallet has been a fresh player on the market for hardware wallets and promises that it is 100% secure due to 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 a limited number of coins and its price of $149 is in line with its competitors. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the individual. It’s a safe option with an innovative design, but it’s not as convenient to use as other wallets. Additionally, it’s a relatively new product that’s available.