The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets on the market in recent years, all promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for safe the storage and protection of assets is becoming increasingly important. The Ellipal wallet is a device which keeps the private keys to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews state the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised device that has been infected with viruses Your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes via cameras on its rear of the. This makes it a highly safe option since it blocks the possibility of a hacker getting gain access to private information via the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it isn’t tested in battle yet. This is something that potential buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for a longer time and have a an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding support for more coins in the future.
In conclusion it is clear that the Ellipal wallet is a new player in the hardware wallet market and promises to be completely secure because of its complete 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 is currently compatible with only a few coins and the price of $149 is on par with its competitors. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the price is up to the individual. It’s a safe option with a unique design however, it’s not as easy to use as other hardware wallets. Additionally, it’s an extremely new product that’s available.