The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets in recent years, all claims that digital assets will be secure and safe. The Ellipal wallet is a new entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes more essential. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets from rival businesses like TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised system that has been infected with viruses Your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of a hacker having access to the private key by the network. It’s important to note that this could mean that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which means that it’s not battle-tested yet. This is something potential buyers must keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have an established track record of security.
In terms of support for coin, the Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. However, the company is currently working on adding more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an brand new player in the market for hardware wallets and promises to be completely safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price at $149 is comparable with its competitors. Although the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallets before making a choice. The final decision about whether or not the Ellipal device is well worth the cost is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy for use like other wallets. Additionally, it’s an extremely new product on the market.