The world of cryptocurrency has seen an significant increase in the amount of hardware wallets available in recent years, each promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets becomes more important. Ellipal wallet Ellipal digital wallet gadget that stores the private key to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of rival firms like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised system which is infected by viruses your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes using cameras on its back of the. This makes it a highly safe option since it blocks the possibility of a hacker getting gain access to private information by the network. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it has not been battle-tested yet. This is something prospective buyers should take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have proven track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding support for more coins in the near future.
In conclusion it is clear that the Ellipal device is an new player on the market for hardware wallets and promises that it is 100% safe due to its total inaccessibility to any computer or network. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as easy to use as other wallets, and it’s an extremely new product that’s available.