The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware in recent years. Each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal digital wallet device that stores the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The website of the company and its reviews online claim that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets of competing companies like TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised device that is infected with viruses, your private keys remain secure and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes via a camera on the back of the. This makes it a very secure option as it eliminates the possibility of a hacker getting access to the private key through the network. However, it’s important to remember that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it has not been combat-tested to date. This is something that potential buyers must keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been on the market for longer and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports the following coins: a few, including 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 may be a concern for some users. The company is working to add the support of more coins in the future.
In the end, it is clear that the Ellipal wallet is a new player in the market for hardware wallets and promises to be 100% safe due to its total inaccessibility to any network or computer. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with other wallets. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as user-friendly in use as the other wallets. It’s also a relatively new product on the market.