The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available on the market in recent years, each promising to keep digital assets secure and safe. The Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure the storage and protection of assets becomes increasingly crucial. It is the Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews state they are completely secure, however, it’s important to note that the hardware wallets of rival companies such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised device that has been infected with viruses your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes through a camera on the back of the. This makes it a very secure option as it eliminates the possibility of hackers getting an access point to your private keys by the network. It’s important to note that this means the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it has not been battle-tested yet. This is something that potential buyers must be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding more support for coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal device is an new player on the market for hardware wallets that claims to be 100% safe due to its total separation from any network or computer. Ellipal is a company that’s relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with the other options. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s a relatively new product on the market.