The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets in recent years, each promising to keep digital assets secure and safe. The Ellipal wallet is a new entrant in this field and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets becomes more essential. The Ellipal wallet is a device which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews claim they are completely safe, however it is important to keep in mind that hardware wallets of competing businesses like TREZOR and Ledger are made in a way that no outside attacker can view your private key. For instance, even if the TREZOR is connected TREZOR to a compromised computer that has been infected with viruses Your private keys are still secure and safe.
Its Ellipal wallet is distinctive 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 safe option since it blocks the possibility of a hacker gaining access to the private key through the network. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it isn’t tested in battle yet. This is something prospective 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) have been in business for a longer time and have a established track records of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to provide support for more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a new player on the market for hardware wallets and promises to be completely secure due to its complete inaccessibility to any computer or network. Its creators are relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins and the price at $149 is comparable with its competitors. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an extremely new product on the market.