The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available on the market in recent years, each promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to 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 that developed the hardware wallet is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim they are completely safe, however it is important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device which is infected by viruses, your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via an image camera at the back of the. This makes it a very secure choice as it removes the possibility of a hacker getting gain access to private information through an internet connection. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it’s not combat-tested to date. This is something that potential buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have a proven track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is working to add the support of more coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a brand new player on the market for hardware wallets that claims to be completely safe due to its total inaccessibility to any network or computer. Its creators are relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with its competitors. Although the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other wallets. It’s also an all-new product available on the market.