The world of cryptocurrency has seen a significant increase in the number of hardware wallets available on the market in recent years. Each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe storage of digital assets becomes more important. Ellipal wallet Ellipal digital wallet device that keeps the private key to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of rival companies such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised system that has been infected with viruses Your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using cameras on its rear of the. This makes it an extremely safe option since it blocks the possibility of hackers getting an access point to your private keys through the network. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it’s not combat-tested to date. This is something potential buyers must take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer and have proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the 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 the support of more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a brand new competitor in the market of hardware wallets that claims that it is 100% secure because of its complete separation from any network or computer. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is in line with its competitors. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with a unique design however, it’s not as easy to use as other wallets, and it’s an all-new product available on the market.