The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available on the market in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is a brand new entry into the market 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 secure storage of digital assets becomes more crucial. It is the Ellipal wallet is a gadget that stores the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund its development. The website of the company and its online reviews state the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets from rival firms such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For example, even if you connect your TREZOR with a compromised computer that has been infected with viruses your private keys remain safe and secure.
The Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it transmits QR codes through cameras on its back of the. This makes it a very secure option as it eliminates the possibility of a hacker gaining access to the private key through the network. It’s important to note that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it has not been battle-tested yet. This is something prospective buyers need to be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were in business for a longer time and have a proven track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is working to provide support for more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet is a fresh player on the market of hardware wallets, promising to be completely secure because of its complete isolation from any network or computer. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with other wallets. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other hardware wallets before making a choice. The final decision about whether the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other hardware wallets, and it’s a relatively new product on the market.