The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets on the market in recent years. Each promises that digital assets will be safe and secure. Its Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure the storage and protection of assets becomes increasingly essential. The Ellipal digital wallet device which keeps the private keys to digital assets off-line, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews claim that their hardware wallet is completely safe, however it is important to remember that hardware wallets of competing businesses such as TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if you connect your TREZOR to a compromised system that is infected with viruses your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes via a camera on the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker getting gain access to private information through the network. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it has not been battle-tested yet. This is something that potential buyers should take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for a longer time and have a established track records of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include 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. But, the company is working to add support for more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a brand new player in the hardware wallet market that claims that it is 100% safe due to its total isolation from any network or computer. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with its competitors. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallets before making a decision. The final decision about whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice with an innovative design, but it’s not as convenient in use as the other wallets. It’s also an all-new product available on the market.