The cryptocurrency market has witnessed an significant increase in the amount of wallets that are hardware in recent years, each promises that digital assets will be safe and secure. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for secure security for digital asset storage is becoming increasingly important. Ellipal wallet Ellipal digital wallet device that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to finance its development. The website of the company and its online reviews state that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of rival companies such as TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For example, even if you connect your TREZOR to a compromised device that has been infected with viruses, your private keys are still protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker getting gain access to private information by the network. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it isn’t combat-tested to date. This is something that potential buyers should be aware of when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is working to provide more support for coins in the future.
In the end In conclusion, the Ellipal wallet has been a fresh competitor in the market of hardware wallets and promises that it is 100% safe due to its total inaccessibility to any network or computer. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with the other options. While the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as user-friendly for use like other hardware wallets. It’s also a relatively new product available on the market.