The cryptocurrency market has seen an significant increase in the number of hardware wallets in recent years, each promises to keep digital assets secure and safe. Its Ellipal wallet is a new entry into the market and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets becomes more essential. It is the Ellipal wallet is a tool that stores the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim they are completely safe, however it is important to keep in mind that hardware wallets of rival companies like TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR to a compromised device that is infected with viruses your private keys remain safe and secure.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through cameras on its back of the. This makes it a highly safe option since it blocks the possibility of hackers gaining access to the private key through a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it’s not tested in battle yet. This is something potential buyers should take into consideration when buying the 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 established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to add more support for coins in the future.
In conclusion, it is clear that the Ellipal wallet is a new player on the market of hardware wallets, promising that it is 100% secure due to its complete separation from any computer or network. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is in line with its competitors. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallets before making a choice. The final decision about whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy for use like other wallets. It’s also an all-new product available on the market.