The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets available on the market in recent years, each promising that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe the storage and protection of assets becomes increasingly essential. 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 behind the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets from rival firms like TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised computer that has been infected with viruses your private keys are still protected and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes through cameras on its rear end. This makes it a highly secure choice as it removes the possibility of hackers getting an access point to your private keys by a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it isn’t tested in battle yet. This is something that potential buyers should be aware of when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are in business for a longer time and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is working to provide support for more coins in the near future.
In the end it is clear that the Ellipal device is an fresh competitor in the hardware wallet market and promises that it is 100% secure because of its complete isolation from any network or computer. Ellipal is a company that’s relatively 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 of $149 is on par with its competitors. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with a unique design however, it’s not as easy for use like other hardware wallets, and it’s a relatively new product available on the market.