The cryptocurrency market has witnessed an significant increase in the number of hardware wallets on the market in recent years. Each promising to keep digital assets secure and safe. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets is becoming increasingly essential. The Ellipal digital wallet tool which keeps the private keys to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state they are 100% secure, however, it’s important to keep in mind that hardware wallets from rival businesses such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR to a compromised device that has been infected with viruses Your private keys are still protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes through an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of a hacker gaining an access point to your private keys through a network connection. It’s important to note that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it has not been combat-tested to date. This is something prospective buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for a longer time and have a an established track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to add support for more coins in the near future.
In conclusion, it is clear that the Ellipal wallet is a fresh player on the market for hardware wallets that claims that it is 100% safe due to its total separation from any network or computer. The company behind it is new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with other wallets. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the track record and security measures of other wallets prior to making a choice. The final decision about whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy to use as other wallets, and it’s a relatively new product available on the market.