The cryptocurrency market has seen a significant increase in the number of hardware wallets available in recent years. Each promising to keep digital assets secure and safe. Its Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure security for digital asset storage becomes increasingly crucial. It is the Ellipal wallet can be described as a tool that stores the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state the hardware wallet as 100% secure, but it’s important to remember that hardware wallets of competing businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via a camera on the rear end. This makes it a very safe option since it blocks the possibility of a hacker having access to the private key by the network. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it’s not battle-tested yet. This is something potential buyers should be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) were around for a longer time and have a an established track record of security.
In terms of support for coin, 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, as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add the support of more coins in the future.
In conclusion, it is clear that the Ellipal wallet is a new competitor in the market of hardware wallets, promising to be 100% secure due to its complete isolation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with its competitors. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the track record and security measures of other wallets before making a decision. The final decision about whether the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as easy for use like other wallets. It’s also an extremely new product that’s available.