The cryptocurrency market has witnessed a significant increase in the number of hardware wallets in recent years, all promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure security for digital asset storage becomes more important. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely 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 the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim they are completely safe, however it is important to keep in mind that hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised device that is infected with viruses your private keys are still protected and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it a highly safe option since it blocks the possibility of a hacker getting access to the private key by a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it’s not combat-tested to date. This is something potential buyers need to be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have a established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is currently working on adding more support for coins in the future.
In the end, it is clear that the Ellipal wallet is a fresh player on the hardware wallet market and promises to be completely secure because of its complete inaccessibility to any computer or network. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other hardware wallets, and it’s an extremely new product that’s available.