The cryptocurrency market has witnessed an significant increase in the amount of wallets that are hardware in recent years, all promises that digital assets will be secure and safe. 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 secure the storage and protection of assets becomes more essential. The Ellipal wallet is a tool that keeps the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews claim they are 100% secure, however, it’s important to remember that hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For example, even if you connect your TREZOR on a compromised device that is infected with viruses, your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via cameras on its back of the. This makes it a highly secure choice as it removes the possibility of hackers getting gain access to private information via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it’s not tested in battle yet. This is something that potential buyers must keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is working to add the support of more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a brand new competitor in the hardware wallet market, promising to be completely secure because of its complete inaccessibility to any computer or network. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with other wallets. Although the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a decision. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s a relatively new product on the market.