The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets on the market in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure storage of digital assets becomes more important. The Ellipal digital wallet device that stores the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state they are completely secure, however, it’s important to note that the hardware wallets of competing firms such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR to a compromised computer that has been infected with viruses Your private keys are still protected and safe.
Ellipal is a unique wallet. 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 connectivity. Instead, it transmits QR codes using an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers getting an access point to your private keys via the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it’s not battle-tested yet. This is something prospective buyers should take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were on the market for a longer time and have a an established track record of security.
Regarding support for coins, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to add more support for coins in the future.
In conclusion it is clear that the Ellipal wallet is a brand new player in the hardware wallet market that claims that it is 100% secure due to its complete inaccessibility to any network or computer. Its creators are new and the product hasn’t been battle-tested as of 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 idea of a fully isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product that’s available.