The world of cryptocurrency has seen an significant increase in the number of hardware wallets on the market in recent years, all claims to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure security for digital asset storage becomes more crucial. The Ellipal wallet is a tool that keeps the private key 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 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 claim they are completely secure, but it’s important to keep in mind that hardware wallets of competing businesses such as TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For example, even if you connect your TREZOR to a compromised system that is infected with viruses, your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining access to the private key via a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it has not been combat-tested to date. This is something that potential buyers must be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for a longer time and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is currently working on adding support for more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a brand new competitor in the market for hardware wallets, promising to be completely secure because of its complete separation from any computer or network. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with its competitors. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other wallets before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. It’s also an extremely new product that’s available.