The world of cryptocurrency has seen a significant rise in the number of hardware wallets in recent years, each promising to keep digital assets safe and secure. Its Ellipal wallet is the latest entrant in this field and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for safe security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The company’s website and reviews online claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of rival companies such as TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For example, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses Your private keys will remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining access to the private key through an internet connection. However, it’s worth noting that this also means that 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 is priced at $149. It is fairly brand new in the marketplace, which implies that it isn’t combat-tested to date. This is something potential buyers should keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have a established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is currently working on adding more support for coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an fresh player on the market for hardware wallets and promises to be 100% secure due to its complete separation from any computer or network. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with the other options. Although the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other wallets prior to making a decision. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy to use as other hardware wallets, and it’s an all-new product available on the market.