The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware in recent years, all claims to keep digital assets secure and safe. The Ellipal wallet is a brand new competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage becomes increasingly important. Ellipal wallet Ellipal digital wallet device that stores the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The company’s website and online reviews state that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets from rival businesses like TREZOR and Ledger are made in a way that no one outside can see your private keys. In the event that, for instance, you connect your TREZOR to a compromised computer which is infected by viruses Your private keys remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes through a camera on the rear end. This makes it a highly secure choice as it removes the possibility of a hacker having an access point to your private keys by an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it’s not tested in battle yet. This is something prospective buyers need to take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are in business for longer and have proven track record of security.
Regarding support for coins, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. But, the company is currently working on adding the support of more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a new player in the hardware wallet market and promises that it is 100% 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 currently supports the use of a small number of coins and the price of $149 is on par with its competitors. Although the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option with a unique design but it’s not as convenient to use as other hardware wallets, and it’s a relatively new product on the market.