The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available in recent years, each claims to keep digital assets secure and safe. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure the storage and protection of assets becomes more crucial. It is the Ellipal digital wallet gadget that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of competing firms like TREZOR as well as Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised device that has been infected with viruses, your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes via an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of hackers getting an access point to your private keys via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it’s not battle-tested yet. This is something prospective buyers must be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer and have proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is working to provide the support of more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a brand new player on the market of hardware wallets that claims to be completely secure because of its complete separation from any computer or network. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is on par with its competitors. Although the concept 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 decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other hardware wallets, and it’s a relatively new product on the market.