The world of cryptocurrency has seen an significant increase in the number of hardware wallets on the market in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure storage of digital assets is becoming increasingly essential. It is the Ellipal digital wallet device that stores the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. They raised $55K in an Indiegogo campaign to finance 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 remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if you connect your TREZOR on a compromised computer that has been infected with viruses your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes using an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker having gain access to private information via the network. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it has not been battle-tested yet. This is something that potential buyers must be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have a proven track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to add support for more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new player on the hardware wallet market, promising that it is 100% secure due to its complete inaccessibility to any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is on par with other wallets. Although the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other wallet options before making a choice. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as easy to use as other wallets. It’s also an extremely new product available on the market.