The cryptocurrency market has seen a significant increase in the amount of hardware wallets on the market in recent years, each promises to keep digital assets safe and secure. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state they are 100% secure, but it’s important to note that the hardware wallets of rival companies such as TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised computer that is infected with viruses Your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes using an image camera at the rear end. This makes it a very safe option since it blocks the possibility of hackers gaining an access point to your private keys via the network. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it has not been battle-tested yet. This is something potential buyers need to be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for longer and have an established track record 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 as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide more support for coins in the future.
In the end In conclusion, the Ellipal device is an fresh player on the hardware wallet market, promising to be completely secure because of its complete inaccessibility to any network or computer. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with other wallets. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other hardware wallets prior to making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice that has a modern design but it’s not as convenient in use as the other wallets. It’s also an all-new product available on the market.