The cryptocurrency market has seen an significant increase in the number of hardware wallets available on the market in recent years, each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure storage of digital assets becomes more essential. It is the Ellipal wallet is a tool that stores the private key to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website as well as online reviews state they are 100% safe, however it is important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, you connect your TREZOR with a compromised system that is infected with viruses Your private keys remain protected and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes via cameras on its rear of the. This makes it a highly secure choice as it removes the possibility of hackers getting access to the private key by an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t 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 recent to market which implies that it isn’t battle-tested yet. This is something that potential buyers must be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for a longer time and have a established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is working to provide more support for coins in the near future.
In the end, it is clear that the Ellipal wallet is a fresh player on the market for hardware wallets and promises that it is 100% secure due to its complete separation from any network or computer. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with the other options. Although the idea of a totally isolated hardware wallet is intriguing however, you should consider the history and security measures of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth 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 for use like other hardware wallets. It’s also an all-new product that’s available.