The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware on the market in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe storage of digital assets is becoming increasingly essential. It is the Ellipal digital wallet device that keeps the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews claim that their hardware wallet is completely safe, however it is important to note that the hardware wallets of rival companies such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR on a compromised computer that has been infected with viruses your private keys remain secure and safe.
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 connections. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of hackers having an access point to your private keys by a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it has not been tested in battle yet. This is something that potential buyers need to be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have a proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is working to add more support for coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a fresh competitor in the market for hardware wallets, promising to be completely secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins, and its price tag at $149 is comparable with the other options. Although the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other wallets. It’s also an all-new product on the market.