The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware on the market in recent years, all promises to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for safe storage of digital assets becomes increasingly important. Ellipal wallet Ellipal wallet is a device which keeps the private keys to digital assets offline to prevent hackers from taking them remotely.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The company’s website and online reviews claim that their hardware wallet is completely secure, but it’s important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are also designed in a way that no one outside can view your private key. In the event that, for instance, you connect your TREZOR on a compromised computer that is infected with viruses Your private keys remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear end. This makes it a highly secure choice as it removes the possibility of a hacker getting an access point to your private keys by a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it’s not combat-tested to date. This is something potential buyers should be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers 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 supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add more support for coins in the near future.
In conclusion, it is clear that the Ellipal wallet has been a brand new player in the market for hardware wallets, promising to be completely secure due to its complete isolation from any computer or network. Its creators are relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is in line with the other options. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as easy for use like other hardware wallets. Additionally, it’s an all-new product available on the market.