The world of cryptocurrency has seen an significant increase in the number of hardware wallets available in recent years. Each claims that digital assets will be secure and safe. The Ellipal wallet is a new competitor in the field, and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets is becoming increasingly important. It is the Ellipal digital wallet device that stores the private key to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively young company on 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 as well as online reviews claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets from rival businesses like TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR on a compromised system that is infected with viruses your private keys will remain protected and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through a camera on the rear end. This makes it a very safe option since it blocks the possibility of hackers having access to the private key via an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it’s not combat-tested to date. This is something potential buyers need to keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for a longer time and have a proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add more support for coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a fresh player in the market for hardware wallets, promising to be completely safe due to its total inaccessibility to any computer or network. Its creators are 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 of $149 is in line with the other options. Although the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s an all-new product that’s available.