The cryptocurrency market has seen a significant increase in the amount of hardware wallets available on the market in recent years. Each promises that digital assets will be secure and safe. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure the storage and protection of assets becomes increasingly essential. The Ellipal wallet is 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 is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews state the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. For instance, even if the TREZOR is connected TREZOR to a compromised computer which is infected by viruses your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of hackers having access to the private key via a network connection. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it’s not tested in battle yet. This is something that potential buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were in business for longer and have proven track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is currently working on adding the support of more coins in the near future.
In conclusion, the Ellipal device is an fresh player in the market for hardware wallets and promises to be 100% safe due to its total separation from any network or computer. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag at $149 is comparable with other wallets. While the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as easy to use as other wallets, and it’s an extremely new product available on the market.