The world of cryptocurrency has seen an significant increase in the amount of hardware wallets on the market in recent years. Each claims to keep digital assets secure and safe. The Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets becomes increasingly important. Ellipal wallet Ellipal wallet is a tool that stores the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For example, even if you connect your TREZOR on a compromised computer which is infected by viruses your private keys remain safe and secure.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes using an image camera at the back of the. This makes it a very secure choice as it removes the possibility of hackers getting an access point to your private keys by an internet connection. It’s important to note that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it isn’t battle-tested yet. This is something prospective buyers should take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have a proven track record 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, as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to provide more support for coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet is a new competitor in the hardware wallet market and promises to be completely secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is on par with the other options. While the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product on the market.