The cryptocurrency market has witnessed an significant rise in the number of wallets that are hardware in recent years, all promising that digital assets will be safe and secure. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets is becoming increasingly important. It is the Ellipal digital wallet gadget that keeps the private key to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For example, even if you connect your TREZOR with a compromised system that is infected with viruses Your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its rear of the. This makes it a very secure choice as it removes the possibility of a hacker 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 that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it’s not battle-tested yet. This is something prospective buyers should take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer 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 supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is currently working on adding the support of more coins in the future.
In the end, it is clear that the Ellipal wallet has been a fresh competitor in the market for hardware wallets, promising to be completely safe due to its total separation from any computer or network. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the track record and security measures of other wallet options before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other hardware wallets. It’s also a relatively new product available on the market.