The world of cryptocurrency has seen an significant increase in the number of hardware wallets available in recent years, all promising to keep digital assets secure and safe. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes more important. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website and reviews online claim the hardware wallet as completely secure, but it’s important to note that the hardware wallets of competing companies like TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For example, even if the TREZOR is connected TREZOR on a compromised system that is infected with viruses Your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using an image camera at the rear of the. This makes it a very safe option since it blocks the possibility of a hacker gaining gain access to private information by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it’s not tested in battle yet. This is something that potential buyers should take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide the support of more coins in the near future.
In the end it is clear that it is clear that the Ellipal device is an brand new competitor in the market of hardware wallets that claims to be 100% safe due to its total separation from any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with its competitors. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other hardware wallets. It’s also a relatively new product on the market.