The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets on the market in recent years, all promises that digital assets will be secure and safe. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe the storage and protection of assets becomes increasingly essential. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets offline, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its reviews online claim they are 100% secure, but it’s important to keep in mind that hardware wallets of rival companies like TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, you connect your TREZOR on a compromised computer that has been infected with viruses Your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via an image camera at the rear of the. This makes it a very secure choice as it removes the possibility of a hacker gaining an access point to your private keys through an internet connection. It’s important to note that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it isn’t battle-tested yet. This is something that potential buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for longer and have a established track records of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as 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 customers. However, the company is working to provide the support of more coins in the near future.
In the end, it is clear that the Ellipal wallet has been a fresh player in the market for hardware wallets and promises that it is 100% secure due to its complete separation from any network or computer. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with the other options. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option with an innovative design, but it’s not as convenient for use like other hardware wallets. It’s also an extremely new product available on the market.