The cryptocurrency market has witnessed a significant increase in the number of hardware wallets on the market in recent years, all promises that digital assets will be secure and safe. Its Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure storage of digital assets is becoming increasingly important. The Ellipal digital wallet tool that keeps the private key to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews claim that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of rival 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 it is possible to connect your TREZOR with a compromised device which is infected by viruses, your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes through cameras on its back of the. This makes it a very secure option as it eliminates the possibility of hackers gaining gain access to private information by the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it isn’t tested in battle yet. This is something prospective buyers need to take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are around for longer and have an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is working to add support for more coins in the near future.
In conclusion, the Ellipal device is an fresh player on the market of hardware wallets and promises to be completely secure due to its complete separation from any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is in line with other wallets. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option with a unique design but it’s not as convenient in use as the other hardware wallets, and it’s a relatively new product on the market.