The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets on the market in recent years, all claims that digital assets will be secure and safe. The Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure the storage and protection of assets is becoming increasingly essential. The Ellipal digital wallet device which keeps the private keys to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new 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 they are completely secure, however, it’s important to keep in mind that hardware wallets of competing firms such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR on a compromised device that is infected with viruses your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes using cameras on its back of the. This makes it an extremely secure option as it eliminates the possibility of hackers getting gain access to private information through the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it has not been battle-tested yet. This is something potential buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are in business for longer and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is working to provide support for more coins in the future.
In the end, it is clear that the Ellipal wallet has been a new player on the market of hardware wallets, promising that it is 100% secure due to its complete separation from any network or computer. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and its price of $149 is on par with the other options. While 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 wallets before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an extremely new product that’s available.