The world of cryptocurrency has seen 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. The Ellipal wallet is the latest entrant in this field and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for safe the storage and protection of assets becomes increasingly important. It is the Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website and online reviews state the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets of competing businesses like TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised computer which is infected by viruses, your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it a very secure choice as it removes the possibility of a hacker gaining gain access to private information through a network connection. It’s important to note that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it has not been combat-tested to date. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been on the market for longer and have a proven track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet 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 customers. The company is working to provide more support for coins in the near future.
In the end it is clear that the Ellipal wallet has been a brand new player on the hardware wallet market that claims to be 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag at $149 is comparable with other wallets. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as easy to use as other wallets. Additionally, it’s an extremely new product on the market.