The cryptocurrency market has seen a significant increase in the amount of hardware wallets on the market in recent years, all promises to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for safe storage of digital assets becomes increasingly important. The 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 young competitor in the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website and reviews online claim the hardware wallet as completely secure, but it’s important to remember that hardware wallets of rival firms like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. In the event that, for instance, you connect your TREZOR to a compromised device that is infected with viruses, your private keys are still protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes using a camera on the back of the. This makes it a very secure option as it eliminates the possibility of a hacker having gain access to private information via an internet connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it isn’t battle-tested yet. This is something prospective buyers should be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were on the market for a longer time and have a an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is currently working on adding support for more coins in the near future.
In the end, the Ellipal device is an brand new player in the market for hardware wallets and promises to be completely safe due to its total separation from any computer or network. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins, and its price tag at $149 is comparable with other wallets. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other hardware wallet options before making a decision. The final decision about whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy for use like other hardware wallets. It’s also an extremely new product available on the market.