The cryptocurrency market has seen a significant rise in the number of hardware wallets in recent years. Each promises to keep digital assets safe and secure. Its Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes increasingly essential. The Ellipal digital wallet device which keeps the private keys to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews state the hardware wallet as 100% safe, however it is important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR to a compromised system that is infected with viruses your private keys will remain protected and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes via an image camera at the back of the. This makes it a very safe option since it blocks the possibility of a hacker having gain access to private information via an internet connection. It’s important to note that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it has not been combat-tested to date. This is something prospective buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for a longer time and have a an established 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 supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to provide support for more coins in the future.
In conclusion, 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 separation from any computer or network. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is in line with its competitors. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallets before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as easy for use like other wallets, and it’s an extremely new product on the market.