The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available in recent years, all promising that digital assets will be safe and secure. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for safe the storage and protection of assets becomes more crucial. The Ellipal wallet is a device that stores the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of competing businesses like TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. For example, even if it is possible to connect your TREZOR with a compromised device that is infected with viruses, your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes through cameras on its rear of the. This makes it a very secure option as it eliminates the possibility of hackers gaining an access point to your private keys via an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it isn’t combat-tested to date. This is something that potential buyers need to be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been around for longer and have a proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is working to provide the support of more coins in the future.
In the end, the Ellipal device is an new player on the hardware wallet market, promising to be completely secure due to its complete separation from any network or computer. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with its competitors. Although the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the history and security features of other hardware wallet options before making a choice. The final decision about whether the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other wallets. It’s also an extremely new product on the market.