The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets in recent years. Each promises that digital assets will be safe and secure. Its Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for safe storage of digital assets is becoming increasingly essential. Ellipal wallet Ellipal digital wallet tool that keeps the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website and reviews online claim the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised device that has been infected with viruses Your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via a camera on the rear end. This makes it a very secure choice as it removes the possibility of hackers having an access point to your private keys through an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it’s not battle-tested yet. This is something that potential buyers must be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to add the support of more coins in the near future.
In the end, it is clear that the Ellipal wallet has been a fresh competitor in the market of hardware wallets and promises to be completely secure because of its complete isolation from any network or computer. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with the other options. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option that has a modern design but it’s not as convenient in use as the other wallets. Additionally, it’s an all-new product available on the market.