The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets available on the market in recent years. Each promising to keep digital assets secure and safe. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets is becoming increasingly important. Ellipal wallet Ellipal wallet is a tool that keeps the private key to digital assets off-line to prevent hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim the hardware wallet as 100% secure, but it’s 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, it is possible to connect your TREZOR with a compromised computer which is infected by viruses your private keys will remain protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes through cameras on its back of the. This makes it a very secure option as it eliminates the possibility of hackers having access to the private key by the network. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked 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 should be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have a an established track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is currently working on adding the support of more coins in the future.
In the end it is clear that the Ellipal wallet is a new competitor in the market of hardware wallets that claims to be 100% secure because of its complete separation from any network or computer. Its creators are relatively new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is in line with other wallets. While the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal device is well worth the price is up to the individual. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other wallets. It’s also an all-new product on the market.