The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available in recent years, each claims that digital assets will be safe and secure. The Ellipal wallet is the latest entrant in this field and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for safe the storage and protection of assets is becoming increasingly crucial. It is the Ellipal wallet can be described as a tool that stores the private key to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. They raised $55K in 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 100% secure, however, it’s important to keep in mind that hardware wallets from rival firms like TREZOR and Ledger are made in a way that no one outside can view your private key. For example, even if it is possible to connect your TREZOR with a compromised system that has been infected with viruses, your private keys remain safe and secure.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker gaining access to the private key through an internet connection. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it isn’t battle-tested yet. This is something prospective buyers should be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are around for a longer time and have a an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add more support for coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an brand new competitor in the market for hardware wallets, promising that it is 100% safe due to its total separation from any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with the other options. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as user-friendly to use as other hardware wallets, and it’s a relatively new product available on the market.