The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available in recent years, each promising to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for safe security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal digital wallet gadget that keeps the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets of competing companies like TREZOR as well as Ledger are made in a way that no one outside can view your private key. In the event that, for instance, the TREZOR is connected TREZOR on a compromised computer which is infected by viruses your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker getting an access point to your private keys through an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it’s not battle-tested yet. This is something prospective buyers must take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for a longer time and have a established track records of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is currently working on adding support for more coins in the future.
In the end it is clear that the Ellipal wallet has been a fresh player in the market of hardware wallets that claims that it is 100% safe due to its total separation from any computer or network. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag at $149 is comparable with other wallets. Although the concept 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. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets, and it’s an all-new product on the market.