The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware in recent years, all promising to keep digital assets safe and secure. The Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe the storage and protection of assets becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews state the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets from rival businesses such as TREZOR as well as 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 with a compromised computer that has been infected with viruses, your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes through cameras on its rear of the. This makes it a very secure choice as it removes the possibility of hackers getting gain access to private information by a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it isn’t battle-tested yet. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have proven track record of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is currently working on adding more support for coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an brand new competitor in the hardware wallet market that claims to be completely secure because of its complete separation from any computer or network. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with its competitors. Although the concept of a completely isolated hardware wallet is intriguing but it’s crucial to look at the track record and security features of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as user-friendly to use as other hardware wallets. It’s also an all-new product on the market.