The world of cryptocurrency has seen a significant increase in the number of hardware wallets in recent years, all promises that digital assets will be secure and safe. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe security for digital asset storage is becoming increasingly crucial. The Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The company’s website and online reviews claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised computer that has been infected with viruses Your private keys remain protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes via cameras on its rear of the. This makes it a very secure choice as it removes the possibility of a hacker getting gain access to private information through a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it isn’t combat-tested to date. This is something that potential buyers need to keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have proven track record of security.
In terms of coin support 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 that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add the support of more coins in the future.
In the end, it is clear that the Ellipal device is an brand new competitor in the market for hardware wallets, promising that it is 100% secure due to its complete separation from any network or computer. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and its price 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 track record and security measures of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other hardware wallets, and it’s an extremely new product available on the market.