The cryptocurrency market has seen an significant increase in the amount of hardware wallets available in recent years. Each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for safe security for digital asset storage becomes increasingly essential. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets off-line to prevent hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The company’s website and online reviews state the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device that has been infected with viruses your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of a hacker having access to the private key by an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it isn’t tested in battle yet. This is something that potential buyers need to be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were around for a longer time and have a proven track record of security.
Regarding support for coins 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 fewer than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is currently working on adding support for more coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a fresh player in the hardware wallet market and promises that it is 100% secure because of its complete separation from any computer or network. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with other wallets. While the idea of a totally separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with an innovative design, but it’s not as convenient for use like other hardware wallets. Additionally, it’s an all-new product available on the market.