The world of cryptocurrency has seen an significant increase in the amount of hardware wallets in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for secure storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a device which keeps the private keys to digital assets offline 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. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of competing firms such as TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. For instance, even if you connect your TREZOR to a compromised device that is infected with viruses, your private keys are still protected and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of hackers getting an access point to your private keys by an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it’s not combat-tested to date. This is something potential buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as 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 is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add support for more coins in the near future.
In conclusion, it is clear that the Ellipal wallet has been a new competitor in the hardware wallet market that claims to be completely secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s 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. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy for use like other hardware wallets. It’s also an all-new product that’s available.