The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets available in recent years. Each claims to keep digital assets secure and safe. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe security for digital asset storage becomes more crucial. The Ellipal wallet can be described as a gadget that stores the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of rival firms like TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For instance, even if you connect your TREZOR with a compromised system which is infected by viruses Your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes through a camera on the rear end. This makes it a highly safe option since it blocks the possibility of hackers having access to the private key by a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it has not been tested in battle yet. This is something prospective buyers must be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is currently working on adding support for more coins in the future.
In conclusion it is clear that it is clear that the Ellipal device is an brand new competitor in the market for hardware wallets that claims to be completely safe due to its total separation from any computer or network. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and the price at $149 is comparable with the other options. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the history and security features of other hardware wallets prior to making a choice. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy to use as other hardware wallets. It’s also a relatively new product available on the market.