The cryptocurrency market has seen an significant rise in the number of hardware wallets available on the market in recent years, each promising that digital assets will be secure and safe. Its Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for safe security for digital asset storage becomes more important. It is the Ellipal digital wallet gadget that stores the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet, is a relatively new 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 they are completely secure, however, it’s important to note that the hardware wallets of rival companies like TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the rear end. This makes it a very secure option as it eliminates the possibility of hackers having gain access to private information by a network connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it isn’t tested in battle yet. This is something potential buyers must be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for longer and have an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, 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 competitor in the market for hardware wallets and promises to be 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with its competitors. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallet options before making a choice. The final decision about whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other wallets. Additionally, it’s a relatively new product that’s available.