The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available on the market in recent years, each promises to keep digital assets secure and safe. Its Ellipal wallet is a new competitor in the 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 is becoming increasingly essential. Ellipal wallet Ellipal digital wallet gadget that stores the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised device that has been 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 computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes using an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of hackers getting an access point to your private keys through the network. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it isn’t combat-tested to date. This is something prospective buyers need to keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is working to provide more support for coins in the near future.
In conclusion, the Ellipal wallet is a brand new competitor in the market for hardware wallets and promises to be 100% secure due to its complete separation from any computer or network. Its creators are new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with other wallets. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the track record and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as user-friendly to use as other wallets. Additionally, it’s an all-new product that’s available.