The cryptocurrency market has seen a significant rise in the number of hardware wallets on the market in recent years, each promises to keep digital assets secure and safe. Its Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe the storage and protection of assets becomes increasingly important. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website as well as online reviews claim they are completely secure, however, it’s important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are made in a way that no one outside can see your private keys. In the event that, for instance, you connect your TREZOR on a compromised computer that is infected with viruses, your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes through an image camera at the back of the. This makes it a very secure choice as it removes the possibility of a hacker having an access point to your private keys through the network. It’s important to note that this means the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it has not been combat-tested to date. This is something that potential buyers need to keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have a proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to add support for more coins in the future.
In conclusion, the Ellipal wallet has been a fresh player on the hardware wallet market that claims that it is 100% safe due to its total separation from any network or computer. The company behind it is relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small 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 however, you should consider the security and track record measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other hardware wallets. It’s also a relatively new product available on the market.