The cryptocurrency market has seen a significant rise in the number of hardware wallets available on the market in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal digital wallet gadget which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The company’s website as well as reviews online claim the hardware wallet as completely secure, however, it’s important to remember that hardware wallets from rival firms such as TREZOR as well as Ledger are made in a way that no one outside can access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised system that has been infected with viruses your private keys are still secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes using an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of hackers gaining access to the private key by an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it has not been battle-tested yet. This is something that potential buyers should keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are in business for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to provide more support for coins in the future.
In the end, it is clear that the Ellipal wallet is a fresh player on the market for hardware wallets, promising to be 100% safe due to its total separation from any network or computer. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with the other options. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallet options before making a choice. The final decision about whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy for use like other wallets. Additionally, it’s an all-new product on the market.