The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available on the market in recent years, all promises to keep digital assets safe and secure. Its Ellipal wallet is the latest entrant in this field and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets becomes more essential. It is the Ellipal wallet is a tool that stores the private key to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets from rival firms like TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For instance, even if you connect your TREZOR to a compromised computer that is infected with viruses, your private keys remain safe and secure.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through cameras on its back of the. This makes it an extremely safe option since it blocks the possibility of a hacker having an access point to your private keys by an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it’s not tested in battle yet. This is something potential buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been on the market for longer and have an established track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is working to provide support for more coins in the near future.
In conclusion, it is clear that the Ellipal wallet has been a fresh player on the hardware wallet market and promises to be completely secure due to its complete separation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with its competitors. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets prior to making a choice. The final decision about whether the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as easy for use like other hardware wallets. Additionally, it’s a relatively new product available on the market.