The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure security for digital asset storage is becoming increasingly crucial. It is the Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. They raised $55K in 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 100% secure, but it’s important to remember that hardware wallets of competing firms like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if the TREZOR is connected TREZOR to a compromised system that has been infected with viruses your private keys remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes via cameras on its back of the. This makes it a very secure option as it eliminates the possibility of a hacker getting an access point to your private keys via an internet connection. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it has not been tested in battle yet. This is something prospective buyers should be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have a an established track record of security.
In terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to provide support for more coins in the near future.
In the end In conclusion, the Ellipal device is an fresh competitor in the market for hardware wallets and promises that it is 100% safe due to its total separation 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 currently supports a limited number of coins and its price of $149 is on par with its competitors. Although the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy for use like other wallets. Additionally, it’s an all-new product on the market.