The cryptocurrency market has seen a significant increase in the amount of hardware wallets available in recent years, all promising to keep digital assets secure and safe. Its Ellipal wallet is the latest entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets is becoming increasingly crucial. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state the hardware wallet as 100% safe, however it is important to note that the hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR on a compromised system which is infected by viruses your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via an image camera at the rear end. This makes it an extremely secure option as it eliminates the possibility of hackers having an access point to your private keys through an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which means that it has not been tested in battle yet. This is something that potential buyers should be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers 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 in terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. The company is currently working on adding more support for coins in the near future.
In conclusion In conclusion, the Ellipal wallet is a fresh player on the hardware wallet market that claims to be 100% safe due to its total separation from any network or computer. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with the other options. Although the idea of a totally separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as easy for use like other wallets. Additionally, it’s an extremely new product on the market.