The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware on the market in recent years, all promises that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe the storage and protection of assets becomes more important. The Ellipal wallet is a tool that stores the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware, 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 and reviews online claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if it is possible to connect your TREZOR on a compromised system that has been infected with viruses Your private keys are still secure and safe.
Its Ellipal wallet is unique 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 through a camera on the rear end. This makes it a highly safe option since it blocks the possibility of a hacker gaining gain access to private information through the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected 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 combat-tested to date. This is something prospective buyers should be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are in business for a longer time and have a an established track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is working to add more support for coins in the future.
In conclusion it is clear that it is clear that the Ellipal device is an fresh player on the hardware wallet market that claims to be completely safe due to its total separation from any network or computer. The company behind it is new and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins and its price of $149 is on par with its competitors. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallets before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly for use like other hardware wallets, and it’s a relatively new product on the market.