The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available in recent years, each promises that digital assets will be safe and secure. The Ellipal wallet is the latest entrant in this field and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for secure the storage and protection of assets becomes increasingly important. The Ellipal wallet can be described as a tool that keeps the private key to digital assets off-line to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews claim the hardware wallet as completely safe, however it is important to note that the hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR on a compromised computer that is infected with viruses your private keys remain safe and secure.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the back of the. This makes it an extremely secure choice as it removes the possibility of hackers gaining an access point to your private keys through the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it’s not battle-tested yet. This is something that potential buyers must keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been in business for longer and have proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add the support of more coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal device is an brand new player on the hardware wallet market and promises that it is 100% safe due to its total separation from any computer or network. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with its competitors. Although the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other hardware wallet options before 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 a very secure option with an innovative design, but it’s not as convenient in use as the other wallets. It’s also a relatively new product that’s available.