The cryptocurrency market has seen an significant increase in the amount of hardware wallets on the market in recent years, all claims that digital assets will be safe and secure. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure storage of digital assets becomes increasingly essential. It is the Ellipal digital wallet tool 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 is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets of competing companies like TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised system that is infected with viruses Your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear of the. This makes it a highly safe option since it blocks the possibility of hackers getting gain access to private information by a network connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it’s not combat-tested to date. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been on the market for longer and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to add more support for coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet is a new player in the market for hardware wallets that claims that it is 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with other wallets. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy in use as the other wallets. It’s also an extremely new product on the market.