The cryptocurrency market has witnessed an significant increase in the amount of wallets that are hardware in recent years. Each claims to keep digital assets safe and secure. The Ellipal wallet is a brand new entrant in this field and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for safe the storage and protection of assets becomes more crucial. It is the Ellipal digital wallet device that stores the private key to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to finance its development. The website of the company and its online reviews claim they are completely secure, but it’s important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR with a compromised device that is infected with viruses Your private keys will remain protected and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via cameras on its rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker getting an access point to your private keys by the network. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it isn’t combat-tested to date. This is something prospective buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are on the market for longer and have an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add support for more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh competitor in the hardware wallet market that claims to be completely secure due to its complete isolation from any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is in line with its competitors. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option with an innovative design, but it’s not as convenient to use as other hardware wallets. Additionally, it’s an all-new product on the market.