The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is a new entrant in this field and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure the storage and protection of assets becomes increasingly important. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new player 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 online reviews claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR with a compromised computer which is infected by viruses your private keys are still safe and secure.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker gaining gain access to private information via the network. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it has not been tested in battle yet. This is something prospective buyers must take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding the support of more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a fresh player on the market for hardware wallets that claims to be completely secure because of its complete separation from any computer or network. Its creators are new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is in line with the other options. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the history and security features of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other hardware wallets. Additionally, it’s a relatively new product available on the market.