The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware in recent years, each claims 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 its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure the storage and protection of assets becomes increasingly essential. Ellipal wallet Ellipal wallet is a gadget that stores the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets from rival businesses such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised system that has been infected with viruses your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through cameras on its rear end. This makes it a highly secure choice as it removes the possibility of a hacker having access to the private key through a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it has not been tested in battle yet. This is something that potential buyers should keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for a longer time and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is working to provide the support of more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal device is an new player on the market of hardware wallets, promising that it is 100% secure because of its complete inaccessibility to any computer or network. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and its price at $149 is comparable with its competitors. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallet options before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s an all-new product on the market.