The world of cryptocurrency has seen a significant increase in the amount of hardware wallets on the market in recent years. Each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes increasingly essential. The Ellipal digital wallet device that stores the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website and reviews online claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets of competing companies like TREZOR as well as Ledger are made in a way that no one outside can view your private key. For instance, even if the TREZOR is connected TREZOR to a compromised computer that is infected with viruses your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes using an image camera at the rear of the. This makes it a highly safe option since it blocks the possibility of a hacker having access to the private key through a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it has not been battle-tested yet. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide more support for coins in the near future.
In conclusion In conclusion, the Ellipal wallet has been a fresh player on the market for hardware wallets, promising to be 100% safe due to its total isolation from any computer or network. The company behind it is new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with its competitors. Although the concept of a totally exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other wallets prior to making a choice. The final decision about whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option with a unique design but it’s not as convenient for use like other hardware wallets. It’s also an all-new product that’s available.