The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available on the market in recent years, all promising that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure storage of digital assets becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of competing companies such as TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For example, even if you connect your TREZOR on a compromised computer that is infected with viruses, your private keys will remain protected and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes via a camera on the rear of the. This makes it a very safe option since it blocks the possibility of a hacker having gain access to private information through a network connection. 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 retails for $149. It is relatively recent to market meaning that it isn’t battle-tested yet. This is something potential buyers must keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for longer and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding support for more coins in the near future.
In the end In conclusion, the Ellipal wallet has been a brand new player in the hardware wallet market and promises to be 100% safe due to its total inaccessibility to any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is in line with other wallets. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the history and security features of other hardware wallets prior to making a decision. In the end, the decision on 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 for use like other hardware wallets. Additionally, it’s a relatively new product on the market.