The cryptocurrency market has seen a significant rise in the number of hardware wallets available on the market in recent years. Each promising to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure security for digital asset storage is becoming increasingly crucial. The Ellipal digital wallet gadget which keeps the private keys to digital assets offline, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim they are completely secure, but it’s important to note that the hardware wallets of rival firms such as TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For example, even if it is possible to connect your TREZOR on a compromised computer that is infected with viruses, your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes through a camera on the rear end. This makes it a highly safe option since it blocks the possibility of a hacker getting gain access to private information through a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it’s not tested in battle yet. This is something potential buyers should keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are on the market for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet is a new player in the market for hardware wallets that claims that it is 100% safe due to its total separation from any computer or network. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with other wallets. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the track record and security measures of other wallets before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option that has a modern design but it’s not as convenient for use like other hardware wallets. Additionally, it’s a relatively new product on the market.