The cryptocurrency market has witnessed a significant increase in the number of hardware wallets in recent years, all claims that digital assets will be secure and safe. The Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for safe security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim they are completely secure, but it’s important to note that the hardware wallets from rival businesses like TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For example, even if you connect your TREZOR to a compromised device that has been infected with viruses your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes using a camera on the rear end. This makes it a very secure choice as it removes the possibility of hackers gaining an access point to your private keys through an internet connection. It’s important to note that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it’s not battle-tested yet. This is something prospective buyers must take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are around for longer and have proven track record of security.
In terms of support for coin, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide more support for coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal device is an new competitor in the market of hardware wallets that claims that it is 100% safe due to its total separation from any network or computer. The company behind it is relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with its competitors. While the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other hardware wallets before making a decision. The final decision about whether the Ellipal device is well worth the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as user-friendly to use as other wallets, and it’s an all-new product available on the market.