The cryptocurrency market has seen a significant increase in the amount of hardware wallets available on the market in recent years. Each claims that digital assets will be secure and safe. The Ellipal wallet is a brand new 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, the need for safe security for digital asset storage becomes increasingly important. It is the Ellipal wallet can be described as a device that stores the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and reviews online claim the hardware wallet as completely safe, however it is important to note that the hardware wallets of competing firms like TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised computer which is infected by viruses your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes using cameras on its rear end. This makes it a very secure choice as it removes the possibility of hackers getting access to the private key through the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it isn’t battle-tested yet. This is something potential buyers should keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business 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 is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add more support for coins in the near future.
In the end In conclusion, the Ellipal device is an fresh player in the market of hardware wallets that claims to be 100% safe due to its total inaccessibility to any network or computer. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is in line with other wallets. Although the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other wallets before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as easy for use like other wallets. Additionally, it’s an extremely new product available on the market.