The cryptocurrency market has seen an significant increase in the number of hardware wallets available in recent years. Each promising that digital assets will be safe and secure. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe the storage and protection of assets becomes more important. The Ellipal digital wallet tool that stores the private key to digital assets indefinitely to prevent hackers from taking them remotely.
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 fund research and development for their products. The company’s website as well as online reviews claim the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of competing businesses such as TREZOR and Ledger are also designed in a way that no one outside can view your private key. For instance, even if it is possible to connect your TREZOR on a compromised system that has been infected with viruses, your private keys will remain protected and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes through cameras on its back of the. This makes it a very secure option as it eliminates the possibility of hackers gaining an access point to your private keys via an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it has not been tested in battle yet. This is something prospective buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been on the market for longer and have proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an fresh competitor in the market for hardware wallets that claims that it is 100% secure due to its complete isolation from any computer or network. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with other wallets. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient to use as other wallets. It’s also an all-new product on the market.