The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets on the market in recent years, each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread, the need for safe storage of digital assets is becoming increasingly essential. The Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim they are completely safe, however it is important to note that the hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no one outside can access your private keys. For example, even if you connect your TREZOR on a compromised computer which is infected by viruses Your private keys will remain protected and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes using an image camera at the rear end. This makes it a very safe option since it blocks the possibility of a hacker gaining an access point to your private keys through the network. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware, 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 isn’t combat-tested to date. This is something potential buyers must be aware of when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were in business for longer and have proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding more support for coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a fresh player on the market for hardware wallets and promises to be 100% secure due to its complete separation from any computer or network. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with the other options. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy for use like other hardware wallets, and it’s a relatively new product that’s available.