The world of cryptocurrency has seen an significant increase in the amount of hardware wallets in recent years, each promising to keep digital assets safe and secure. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe the storage and protection of assets becomes more essential. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets offline 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. They raised $55K in an Indiegogo campaign to finance its development. The website of the company and its reviews online claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For example, even if you connect your TREZOR with a compromised device which is infected by viruses Your private keys remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes using cameras on its rear of the. This makes it a very secure choice as it removes the possibility of hackers gaining gain access to private information by an internet connection. However, it’s important to remember that this also means 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 fairly brand new in the marketplace, which implies that it isn’t combat-tested to date. This is something potential buyers must take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are around 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 currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is working to add more support for coins in the near future.
In the end In conclusion, the Ellipal wallet is a new competitor in the market for hardware wallets, promising to be completely safe due to its total separation from any network or computer. Its creators are relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is on par with the other options. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other hardware wallets, and it’s an extremely new product on the market.