The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available on the market in recent years. Each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage becomes increasingly important. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component, 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 website of the company and its reviews online claim the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of competing companies like TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For example, even if the TREZOR is connected TREZOR to a compromised computer that is infected with viruses your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of hackers getting gain access to private information through an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it isn’t combat-tested to date. This is something prospective buyers must take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have an established track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is working to provide support for more coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet is a brand new player on the market for hardware wallets that claims to be completely secure because of its complete isolation from any computer or network. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with its competitors. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallets before making a choice. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient to use as other hardware wallets, and it’s an extremely new product that’s available.