The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware on the market in recent years, each claims to keep digital assets safe and secure. The Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for secure the storage and protection of assets is becoming increasingly important. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews state the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For example, even if you connect your TREZOR to a compromised computer which is infected by viruses, your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes using an image camera at the rear end. This makes it a very safe option since it blocks the possibility of a hacker having gain access to private information through an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it’s not battle-tested yet. This is something prospective buyers should keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are around 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 supports a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is working to provide support for more coins in the near future.
In the end, the Ellipal wallet has been a fresh player in the market of hardware wallets and promises to be completely secure because of its complete isolation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with an innovative design, but it’s not as convenient for use like other hardware wallets, and it’s a relatively new product that’s available.