The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets on the market in recent years. Each claims to keep digital assets secure and safe. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets is becoming increasingly essential. The Ellipal digital wallet device that stores the private key to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR with a compromised device that is infected with viruses, your private keys are still safe and secure.
The Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the back of the. This makes it a very safe option since it blocks the possibility of hackers having gain access to private information by a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it has not been tested in battle yet. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for a longer time and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is currently working on adding the support of more coins in the future.
In conclusion In conclusion, the Ellipal wallet has been a new player on the market of hardware wallets and promises to be completely secure because of its complete isolation from any network or computer. Its creators are relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is on par with the other options. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly to use as other hardware wallets, and it’s an all-new product on the market.