The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets on the market in recent years. Each promising to keep digital assets safe and secure. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for secure security for digital asset storage is becoming increasingly important. The Ellipal wallet is a tool that keeps the private key to digital assets off-line, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews claim the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of competing companies such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised device that has been infected with viruses, your private keys are still safe and secure.
Its Ellipal wallet is unique in its design, it is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker getting gain access to private information by the network. It’s important to note that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it has not been tested in battle yet. This is something potential buyers need to keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were on the market for a longer time and have a an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add support for more coins in the near future.
In conclusion, the Ellipal wallet is a brand new competitor in the hardware wallet market that claims to be completely secure due to its complete inaccessibility to any network or computer. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with the other options. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other wallets prior to making a decision. The final decision about whether the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other hardware wallets, and it’s a relatively new product that’s available.