The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware on the market in recent years. Each promises to keep digital assets secure and safe. The Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for safe security for digital asset storage becomes more crucial. It is the Ellipal wallet is 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 hardware wallet is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews state they are completely safe, however it is important to remember that hardware wallets of competing companies such as TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised computer which is infected by viruses your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its rear end. This makes it a highly secure choice as it removes the possibility of a hacker getting an access point to your private keys by a network connection. It’s important to note that this means the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it isn’t tested in battle yet. This is something that potential buyers must take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were on the market for longer and have established track records of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is currently working on adding the support of more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new competitor in the market for hardware wallets, promising to be completely safe due to its total isolation from any computer or network. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and the price at $149 is comparable with its competitors. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product on the market.