The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available in recent years. Each promises that digital assets will be secure and safe. The 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 is becoming more widespread and more commonplace, the need for safe storage of digital assets is becoming increasingly important. It is the Ellipal digital wallet device which keeps the private keys to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young 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 completely secure, however, it’s important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For example, even if the TREZOR is connected TREZOR to a compromised computer which is infected by viruses, your private keys remain secure and safe.
Ellipal is a unique wallet. 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 communicates through QR codes using an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of hackers having access to the private key via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it isn’t combat-tested to date. This is something potential buyers should keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been in business for longer and have a established track records 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, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to provide the support of more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a new player on the hardware wallet market and promises to be 100% safe due to its total separation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag at $149 is comparable with the other options. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other hardware wallets. It’s also a relatively new product available on the market.