The world of cryptocurrency has seen a significant rise in the number of hardware wallets available in recent years, each claims 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 rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage becomes more important. The Ellipal digital wallet gadget that stores the private key to digital assets off-line to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new player in the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website and reviews online claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of competing firms like TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses your private keys are still secure and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through a camera on the back of the. This makes it a highly secure choice as it removes the possibility of hackers getting access to the private key via a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it has not been tested in battle yet. This is something prospective buyers should take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports 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 could be a problem for some buyers. The company is working to provide support for more coins in the future.
In the end it is clear that the Ellipal device is an new player on the market for hardware wallets, promising to be 100% safe due to its total isolation from any computer or network. Ellipal is a company that’s new and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as user-friendly in use as the other wallets, and it’s a relatively new product that’s available.