The world of cryptocurrency has seen an significant increase in the number of hardware wallets available on the market in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for secure storage of digital assets becomes more crucial. The Ellipal digital wallet device which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim they are completely safe, however it is important to remember that hardware wallets of rival companies such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device that is infected with viruses Your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through an image camera at the rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining gain access to private information through an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it isn’t combat-tested to date. This is something potential buyers should be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for longer and have established track records of security.
In terms of coin support, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to add support for more coins in the future.
In conclusion, 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 relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag at $149 is comparable with the other options. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallets prior to making a choice. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient for use like other wallets, and it’s an extremely new product that’s available.