The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets available in recent years, each promising that digital assets will be safe and secure. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for safe storage of digital assets becomes more essential. Ellipal wallet Ellipal digital wallet device which keeps the private keys to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For instance, even if you connect your TREZOR to a compromised system that is infected with viruses Your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker having an access point to your private keys via a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it has not been battle-tested yet. This is something prospective buyers should take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are around for longer and have established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide support for more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a new player on the hardware wallet market that claims to be completely safe due to its total inaccessibility to any computer or network. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins and the price at $149 is comparable with the other options. While the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other wallets prior to making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the cost 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 hardware wallets, and it’s an extremely new product on the market.