The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available on the market in recent years. Each promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for safe the storage and protection of assets becomes more essential. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of competing companies such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised device that has been infected with viruses, your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers having gain access to private information by the network. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it has not been battle-tested yet. This is something prospective buyers need to be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are around for longer and have a an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is currently working on adding support for more coins in the near future.
In conclusion, it is clear that the Ellipal device is an fresh player in the hardware wallet market and promises to be 100% secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag 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 security and track record features of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other hardware wallets. It’s also a relatively new product available on the market.