The cryptocurrency market has witnessed a significant increase in the number of hardware wallets in recent years, all promising that digital assets will be safe and secure. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe the storage and protection of assets becomes increasingly important. The Ellipal digital wallet tool which keeps the private keys to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state the hardware wallet as completely secure, but it’s important to remember that hardware wallets from rival companies such as TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised computer which is infected by viruses Your private keys remain safe and secure.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using cameras on its back of the. This makes it a very safe option since it blocks the possibility of hackers having gain access to private information by a network connection. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it has not been combat-tested to date. This is something prospective buyers need to take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were on the market for a longer time and have a proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide support for more coins in the near future.
In the end In conclusion, the Ellipal wallet is a brand new competitor in the hardware wallet market and promises that it is 100% secure due to its complete inaccessibility to any computer or network. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is on par with its competitors. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other wallets prior to making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy for use like other wallets, and it’s an extremely new product available on the market.