The cryptocurrency market has witnessed an significant rise in the number of wallets that are hardware on the market in recent years, each promises that digital assets will be secure and safe. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure storage of digital assets becomes more important. It is the Ellipal wallet is a gadget that keeps the private key to digital assets indefinitely, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state they are 100% secure, but it’s important to remember that hardware wallets from rival firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR with a compromised system that has been infected with viruses your private keys are still protected and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via cameras on its rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting gain access to private information through the network. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it isn’t tested in battle yet. This is something that potential buyers should keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have a established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide the support of more coins in the near future.
In the end In conclusion, the Ellipal wallet is a fresh player in the market of hardware wallets, promising to be completely secure due to its complete separation from any computer or network. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is in line with the other options. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy for use like other wallets. It’s also an extremely new product available on the market.