The world of cryptocurrency has seen a significant rise in the number of hardware wallets on the market in recent years. Each promising to keep digital assets safe and secure. Its Ellipal wallet is a new entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for secure storage of digital assets becomes more important. It is the Ellipal digital wallet tool that keeps the private key to digital assets indefinitely, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews state that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For example, even if the TREZOR is connected TREZOR on a compromised computer that is infected with viruses, your private keys are still protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its back of the. This makes it a very safe option since it blocks the possibility of a hacker getting gain access to private information via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it has not been battle-tested yet. This is something that potential buyers need to be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are in business for longer and have a proven track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is currently working on adding more support for coins in the near future.
In the end it is clear that the Ellipal device is an new player on the market for hardware wallets that claims that it is 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price of $149 is on par with the other options. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the security and track record features of other hardware wallets before making a choice. The final decision about whether the Ellipal wallet is worth 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 for use like other hardware wallets, and it’s an all-new product available on the market.