The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets in recent years, each claims to keep digital assets safe and secure. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets is becoming increasingly crucial. Ellipal wallet Ellipal digital wallet device that stores the private key to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The company’s website as well as reviews online claim that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets from rival businesses like TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised system that has been infected with viruses, your private keys remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through cameras on its rear end. This makes it a highly safe option since it blocks the possibility of a hacker getting access to the private key by an internet connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, meaning that it’s not tested in battle yet. This is something prospective buyers need to take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been on the market for longer and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is currently working on adding support for more coins in the near future.
In the end it is clear that it is clear that the Ellipal device is an new player in the hardware wallet market that claims to be completely secure due to its complete isolation from any network or computer. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and its price of $149 is on par with other wallets. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallet options before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as easy to use as other hardware wallets. It’s also an all-new product that’s available.