The cryptocurrency market has witnessed an significant increase in the number of hardware wallets in recent years. Each promising to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for safe storage of digital assets becomes more crucial. The Ellipal digital wallet device which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website and online reviews claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets from rival companies like TREZOR as well as Ledger are made in a way that no one outside can view your private key. For example, even if it is possible to connect your TREZOR to a compromised system which is infected by viruses your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using an image camera at the rear end. This makes it a very secure choice as it removes the possibility of a hacker having access to the private key through an internet connection. It’s important to note that this could mean that 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 new to the market, which means that it’s not combat-tested to date. This is something potential buyers need to be aware of when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were in business for a longer time and have a an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding the support of more coins in the near future.
In conclusion, it is clear that the Ellipal wallet is a new player in the market of hardware wallets and promises to be 100% safe due to its total inaccessibility to any network or computer. Its creators are relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price at $149 is comparable with its competitors. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy for use like other wallets. It’s also an all-new product on the market.