The cryptocurrency market has seen a significant rise in the number of hardware wallets in recent years, all promises to keep digital assets secure and safe. Its Ellipal wallet is a new entry into the market and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe security for digital asset storage becomes increasingly crucial. The Ellipal wallet can be described as a tool that stores the private key to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews state the hardware wallet as 100% safe, however it is important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no one outside can see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised computer which is infected by viruses your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes via a camera on the rear end. This makes it a highly secure choice as it removes the possibility of a hacker having gain access to private information by an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it has not been combat-tested to date. This is something prospective buyers need to be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for a longer time and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is currently working on adding support for more coins in the future.
In the end it is clear that it is clear that the Ellipal wallet has been a new player on the market for hardware wallets, promising 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 supports only a few coins, and its price tag at $149 is comparable with its competitors. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the cost 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. Additionally, it’s a relatively new product available on the market.