The cryptocurrency market has seen a significant increase in the amount of hardware wallets available in recent years. Each promises to keep digital assets secure and safe. The Ellipal wallet is a new entry into the market 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 secure storage of digital assets becomes increasingly crucial. It is the Ellipal wallet is a tool which keeps the private keys to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website and online reviews state the hardware wallet as 100% safe, however it is important to note that the hardware wallets of rival firms such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses, your private keys will remain protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes using a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining access to the private key through a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it isn’t battle-tested yet. This is something that potential buyers should be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have a established track records 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, and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to add the support of more coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet is a brand new player in the market of hardware wallets that claims to be 100% secure due to its complete separation from any network or computer. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and its price at $149 is comparable with its competitors. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other wallets, and it’s an all-new product that’s available.