The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets on the market in recent years. Each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure the storage and protection of assets becomes more crucial. The Ellipal wallet can be described as a device that stores the private key to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state the hardware wallet as completely safe, however it is important to remember that hardware wallets from rival companies like 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 on a compromised computer that has been infected with viruses Your private keys will remain safe and secure.
Its Ellipal wallet is unique 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 via QR codes using an image camera at the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting access to the private key through the network. It’s important to note 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 is priced at $149. It is fairly new to the market, which implies that it has not been battle-tested yet. This is something prospective buyers need to take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were in business for a longer time and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is working to provide more support for coins in the future.
In the end, it is clear that the Ellipal wallet is a fresh competitor in the market for hardware wallets, promising that it is 100% secure due to its complete inaccessibility to any computer or network. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and its price at $149 is comparable with other wallets. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as user-friendly for use like other hardware wallets. It’s also an all-new product on the market.