The cryptocurrency market has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, each claims that digital assets will be secure and safe. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure the storage and protection of assets becomes increasingly important. The Ellipal wallet is a tool which keeps the private keys to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. 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 rival companies such as TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer which is infected by viruses, your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker getting access to the private key via a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it isn’t battle-tested yet. This is something prospective buyers must take into consideration when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for longer and have a proven track record of security.
Regarding support for coins, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide support for more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an new player in the hardware wallet market and promises to be 100% secure due to its complete isolation 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 currently supports a limited number of coins and its price of $149 is on par with the other options. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the track record and security features of other hardware wallets before making a choice. The final decision about whether the Ellipal device is well worth the cost 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 wallets, and it’s a relatively new product available on the market.