The cryptocurrency market has seen a significant rise in the number of wallets that are hardware in recent years, all claims 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 cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets becomes more essential. The Ellipal digital wallet device which keeps the private keys to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website as well as online reviews state that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of rival firms such as TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if you connect your TREZOR to a compromised computer that has been infected with viruses, your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes using a camera on the back of the. This makes it an extremely secure option as it eliminates the possibility of hackers having access to the private key through a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it’s not combat-tested to date. This is something prospective buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for a longer time and have a proven track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide the support of more coins in the near future.
In the end In conclusion, the Ellipal wallet is a new player on the hardware wallet market, promising to be 100% secure due to its complete separation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is in line with the other options. Although the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallet options before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for 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. Additionally, it’s a relatively new product available on the market.