The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware in recent years, all promises to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe the storage and protection of assets becomes increasingly essential. It is the Ellipal digital wallet gadget that stores the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. They raised $55K in an Indiegogo campaign to finance its development. The website of the company and its reviews online claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of rival companies like TREZOR as well as Ledger are made in a way that no one outside can access your private keys. For example, even if you connect your TREZOR with a compromised computer which is infected by viruses, your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes via a camera on the rear end. This makes it a very secure option as it eliminates the possibility of hackers getting an access point to your private keys by an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it’s not tested in battle yet. This is something potential buyers need to take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are in business for longer and have a an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is currently working on adding more support for coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a brand new player in the market of hardware wallets and promises to be 100% secure because of its complete inaccessibility to any computer or network. The company behind it is relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with its competitors. While the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other wallets before making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with an innovative design, but it’s not as convenient to use as other hardware wallets. It’s also an extremely new product on the market.