The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware in recent years, each claims to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets becomes increasingly essential. It is the Ellipal digital wallet device which keeps the private keys to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website and online reviews state they are 100% secure, but it’s important to keep in mind that hardware wallets of rival firms like TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised computer which is infected by viruses your private keys remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes using cameras on its rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining an access point to your private keys via an internet connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it’s not battle-tested yet. This is something that potential buyers need to take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are around for a longer time and have a established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to provide more support for coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a brand new competitor in the market for hardware wallets, promising to be completely safe due to its total separation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag at $149 is comparable with other wallets. While the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallet options before making a choice. The final decision about whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as easy to use as other hardware wallets, and it’s a relatively new product available on the market.