The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available in recent years, each promising to keep digital assets secure and safe. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure storage of digital assets is becoming increasingly essential. It is the Ellipal digital wallet device that keeps the private key to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website and reviews online claim that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of rival companies like 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 to a compromised device that has been infected with viruses Your private keys remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via a camera on the rear of the. This makes it a very safe option since it blocks the possibility of hackers having gain access to private information through a network connection. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it has not been combat-tested to date. This is something potential buyers should keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been in business for a longer time and have a established track records of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to provide more support for coins in the future.
In the end, the Ellipal wallet is a new player in the hardware wallet market that claims to be 100% safe due to its total isolation from any computer or network. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and the price of $149 is in line with its competitors. Although the concept of a fully separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option with an innovative design, but it’s not as convenient to use as other wallets, and it’s a relatively new product available on the market.