The cryptocurrency market has witnessed 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 competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe the storage and protection of assets becomes more crucial. The Ellipal wallet can be described as a device that stores the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website and reviews online claim they are completely secure, but it’s important to note that the hardware wallets of rival companies like TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised device that is infected with viruses your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes using cameras on its back of the. This makes it an extremely secure choice as it removes the possibility of a hacker gaining gain access to private information through a network connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it’s not battle-tested yet. This is something that potential buyers should be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are around for a longer time and have a an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding more support for coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a brand new competitor in the hardware wallet market, promising to be 100% secure due to its complete inaccessibility to any computer or network. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is on par with its competitors. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallets before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as easy in use as the other wallets. It’s also a relatively new product available on the market.