The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware in recent years, all 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 rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe storage of digital assets becomes increasingly essential. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new 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 completely secure, however, it’s important to keep in mind that hardware wallets of rival firms such as TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For example, even if the TREZOR is connected TREZOR on a compromised computer that has been infected with viruses Your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes via an image camera at the rear of the. This makes it a very secure choice as it removes the possibility of hackers having access to the private key via the network. It’s important to note that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it’s not tested in battle yet. This is something potential buyers should keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) were in business for a longer time and have a an established track record 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 a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is currently working on adding the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a new player in the hardware wallet market and promises to be 100% secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with other wallets. 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 wallets prior to making a choice. The final decision about whether the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option with a unique design however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product on the market.