The cryptocurrency market has seen an significant increase in the number of hardware wallets available on the market in recent years, each promises that digital assets will be safe and secure. The Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe the storage and protection of assets is becoming increasingly important. The Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim they are completely secure, but it’s important to keep in mind that hardware wallets from rival firms such as TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. In the event that, for instance, you connect your TREZOR with a compromised system that has been infected with viruses your private keys are still safe and secure.
Its Ellipal wallet is unique in its design. It is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers getting an access point to your private keys via a network connection. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it isn’t tested in battle yet. This is something potential buyers need to be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to provide more support for coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the market for hardware wallets and promises to be completely secure due to its complete inaccessibility to any computer or network. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with other wallets. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option with a unique design but it’s not as convenient to use as other wallets, and it’s an extremely new product on the market.