The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available in recent years, all promises to keep digital assets secure and safe. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for safe the storage and protection of assets becomes more important. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website and online reviews claim they are 100% safe, however it is important to remember that hardware wallets of rival firms like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised device that has been infected with viruses, your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes via cameras on its back of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting gain access to private information via the network. It’s important to note that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it’s not battle-tested yet. This is something potential buyers need to keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for a longer time and have a an established track record of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to provide support for more coins in the near future.
In the end, the Ellipal wallet is a brand new player in the market of hardware wallets and promises to be 100% safe due to its total isolation from any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with its competitors. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the history and security measures of other hardware wallet options before making a decision. The final decision about whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient for use like other wallets. Additionally, it’s an all-new product that’s available.