The cryptocurrency market has witnessed a significant increase in the number of wallets that are hardware in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for safe the storage and protection of assets becomes increasingly essential. It is the Ellipal digital wallet gadget that stores the private key to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews state the hardware wallet as completely safe, however it is important to remember that hardware wallets of rival companies like TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if you connect your TREZOR with a compromised system that has been infected with viruses your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via a camera on the back of the. This makes it an extremely secure option as it eliminates the possibility of hackers getting access to the private key by a network connection. However, it’s worth noting that this could mean 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 fairly recent to market which means that it isn’t battle-tested yet. This is something potential buyers should keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have an established track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding support for more coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a brand new player in the hardware wallet market and promises to be completely secure due to its complete isolation from any computer or network. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with other wallets. Although the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallets prior to making a decision. The final decision about whether the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with a unique design but it’s not as convenient in use as the other hardware wallets. Additionally, it’s a relatively new product available on the market.