The world of cryptocurrency has seen an significant increase in the amount of hardware wallets in recent years. Each promises that digital assets will be safe and secure. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure storage of digital assets becomes more crucial. The Ellipal digital wallet gadget that keeps the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The company’s website and reviews online claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For instance, even if the TREZOR is connected TREZOR with a compromised device that is infected with viruses Your private keys will remain safe and secure.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes through an image camera at the back of the. This makes it a very secure option as it eliminates the possibility of a hacker getting 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 like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it’s not battle-tested yet. This is something that potential buyers must be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are in business for longer and have proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add support for more coins in the future.
In the end In conclusion, the Ellipal device is an new player on the market for hardware wallets, promising to be 100% secure because of its complete inaccessibility to any network or computer. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is in line with its competitors. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallets before making a decision. The final decision about whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option with a unique design but it’s not as convenient in use as the other wallets. It’s also an extremely new product on the market.