The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware on the market in recent years, each promises to keep digital assets secure and safe. The Ellipal wallet is a new entrant in this field and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure storage of digital assets becomes more essential. The Ellipal digital wallet device that keeps the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews claim they are completely secure, but it’s important to note that the hardware wallets of competing businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if you connect your TREZOR on a compromised computer that is infected with viruses Your private keys remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes via cameras on its rear of the. This makes it an extremely secure choice as it removes the possibility of hackers getting an access point to your private keys via a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it’s not tested in battle yet. This is something prospective buyers must keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were around for longer and have a established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add the support of more coins in the future.
In conclusion, it is clear that the Ellipal wallet is a new competitor in the hardware wallet market that claims to be 100% secure because of its complete inaccessibility to any computer or network. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is on par with other wallets. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other wallets before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option with a unique design however, it’s not as user-friendly for use like other hardware wallets. It’s also a relatively new product available on the market.