The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware on the market in recent years. Each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure the storage and protection of assets becomes increasingly important. It is the Ellipal wallet is a gadget that keeps the private key to digital assets offline to prevent hackers from taking them 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 the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews claim they are 100% secure, however, it’s important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are made in a way that no one outside can view your private key. For example, even if you connect your TREZOR with a compromised computer that is infected with viruses Your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes through an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers getting access to the private key through the network. However, it’s important to remember that this also means that 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 costs $149 and is relatively new to the market, which means that it isn’t combat-tested to date. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been in business for longer and have an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is working to provide more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet is a new player on the hardware wallet market, promising to be 100% secure due to its complete separation from any network or computer. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is on par with the other options. Although the idea of a totally separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallets prior to making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as easy in use as the other hardware wallets. It’s also an all-new product that’s available.