The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets available on the market in recent years, each promises that digital assets will be safe and secure. Its Ellipal wallet is a new competitor in the field, and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for safe the storage and protection of assets becomes more essential. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in 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 online reviews state that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are also designed in a way that no one outside can view your private key. For example, even if it is possible to connect your TREZOR on a compromised computer that has been infected with viruses, your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes via a camera on the rear end. This makes it a very safe option since it blocks the possibility of a hacker having gain access to private information through an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it’s not tested in battle yet. This is something that potential buyers should be aware of when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were in business for longer and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is working to add more support for coins in the future.
In conclusion, the Ellipal wallet has been a brand new player in the market for hardware wallets, promising to be completely secure due to its complete separation from any network or computer. The company behind it is relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and its price at $149 is comparable with other wallets. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallets prior to making a choice. 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 that has a modern design however, it’s not as easy in use as the other wallets, and it’s a relatively new product on the market.