The cryptocurrency market has witnessed a significant increase in the number of wallets that are hardware on the market in recent years, each promising to keep digital assets safe and secure. The Ellipal wallet is a new entry into the market and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe security for digital asset storage becomes more important. The Ellipal wallet can be described as a tool that keeps the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The company’s website and online reviews state the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of competing businesses like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses, your private keys are still secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its back of the. This makes it a highly secure option as it eliminates the possibility of hackers having gain access to private information via a network connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it’s not tested in battle yet. This is something potential buyers should be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were on the market for a longer time and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is working to provide more support for coins in the near future.
In conclusion it is clear that the Ellipal wallet is a fresh player on the market for hardware wallets, promising that it is 100% secure because of its complete separation from any computer or network. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and its price of $149 is on par with other wallets. While the idea 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 decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as user-friendly to use as other hardware wallets, and it’s an all-new product that’s available.