The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available in recent years, all promises to keep digital assets safe and secure. Its Ellipal wallet is a new entrant in this field and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets is becoming increasingly important. It is the Ellipal digital wallet tool that stores the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The website of the company and its reviews online claim they are completely safe, however it is important to remember that hardware wallets from rival companies like TREZOR and Ledger are made in a way that no one outside can view your private key. For example, even if it is possible to connect your TREZOR on a compromised computer that has been infected with viruses your private keys remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via a camera on the rear end. This makes it a very safe option since it blocks the possibility of hackers gaining access to the private key via a network connection. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer for simple 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 that potential buyers should keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are 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 currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. The company is working to provide the support of more coins in the near future.
In the end In conclusion, the Ellipal device is an new player in the hardware wallet market, promising to be 100% secure due to its complete isolation from any network or computer. The company behind it is new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with its competitors. While the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option with an innovative design, but it’s not as convenient in use as the other wallets. Additionally, it’s a relatively new product that’s available.