The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available in recent years. Each promises to keep digital assets secure and safe. Its Ellipal wallet is a brand new entrant in this field and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes increasingly essential. The Ellipal digital wallet gadget that stores the private key to digital assets off-line, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim they are completely secure, however, it’s important to keep in mind that hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if the TREZOR is connected TREZOR to a compromised computer that is infected with viruses your private keys are still secure and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes via an image camera at the back of the. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key by a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it has not been battle-tested yet. This is something prospective buyers should be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are in business for longer and have a established track records of security.
In terms of coin support 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 that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is working to provide the support of more coins in the future.
In conclusion, the Ellipal wallet is a brand new player in the market for hardware wallets, promising to be completely secure due to its complete separation from any network or computer. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag at $149 is comparable with its competitors. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallet options before making a decision. The final decision about whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option that has a modern design but it’s not as convenient to use as other wallets. It’s also an all-new product that’s available.