The cryptocurrency market has seen a significant increase in the number of wallets that are hardware in recent years, all promises to keep digital assets secure and safe. Its Ellipal wallet is a new entrant in this field and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes increasingly essential. It is the Ellipal digital wallet tool that stores the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets of rival firms like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses, your private keys remain protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of a hacker gaining gain access to private information via a network connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer for easy 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 the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide the support of more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal device is an new player in the market of hardware wallets and promises to be 100% secure because of its complete inaccessibility to any network or computer. The company behind it is relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is in line with the other options. Although the concept of a fully separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other wallet options before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy to use as other hardware wallets. It’s also an extremely new product available on the market.