The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware on the market in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure storage of digital assets becomes more essential. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets offline, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no one outside can see your private keys. For example, even if you connect your TREZOR with a compromised computer that is infected with viruses Your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes using cameras on its back of the. This makes it an extremely secure choice as it removes the possibility of hackers having access to the private key by a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it isn’t combat-tested to date. This is something potential buyers need to be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have an established track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is working to provide the support of more coins in the near future.
In the end it is clear that the Ellipal wallet has been a new player on the market for hardware wallets, promising to be completely secure because of its complete separation from any network or computer. Its creators are new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with other wallets. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the person who buys it. 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 that’s available.