The world of cryptocurrency has seen a significant increase in the number of hardware wallets available on the market in recent years, all promising that digital assets will be secure and safe. The Ellipal wallet is a brand new competitor in the field, and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe security for digital asset storage is becoming increasingly important. It is the Ellipal digital wallet gadget which keeps the private keys to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The website of the company and its reviews online claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no one outside can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses, your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining an access point to your private keys via a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it isn’t tested in battle yet. This is something that potential buyers need to take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have a an established track record of security.
Regarding support for coins in terms of coin support, 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 and 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 buyers. But, the company is working to add more support for coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an fresh competitor in the hardware wallet market that claims to be completely safe due to its total separation from any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins and the price at $149 is comparable with other wallets. While the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other wallets before making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option that has a modern design but it’s not as convenient in use as the other wallets. Additionally, it’s an all-new product on the market.