The cryptocurrency market has seen a significant rise in the number of wallets that are hardware on the market in recent years. Each promises to keep digital assets secure and safe. Its Ellipal wallet is a brand new competitor in the field, and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure security for digital asset storage becomes increasingly essential. It is the Ellipal wallet is a gadget that keeps the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
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 reviews online claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets from rival companies such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR to a compromised system that is infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes using a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker gaining access to the private key by an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it’s not battle-tested yet. This is something that potential buyers need to keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have a established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide the support of more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a fresh player on the hardware wallet market, promising to be 100% secure due to its complete separation from any network or computer. The company behind it is new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is in line with its competitors. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as user-friendly to use as other hardware wallets, and it’s a relatively new product available on the market.