The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available in recent years, all promises to keep digital assets secure and safe. Its Ellipal wallet is a brand new entry into the market and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets becomes increasingly essential. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website and reviews online claim they are 100% secure, but it’s important to note that the hardware wallets from rival companies like TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For instance, even if you connect your TREZOR with a compromised system that has been 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 that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the back of the. This makes it an extremely safe option since it blocks the possibility of hackers getting access to the private key through an internet connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it isn’t tested in battle yet. This is something potential buyers must keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is working to add the support of more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a fresh player in the market for hardware wallets that claims to be 100% secure because of its complete inaccessibility to any computer or network. Its creators are new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price at $149 is comparable with other wallets. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the history and security features of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal device is well worth the price 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 an extremely new product that’s available.