The world of cryptocurrency has witnessed an significant rise in the number of wallets that are hardware in recent years. Each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for secure storage of digital assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website and online reviews claim the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised system that has been infected with viruses, your private keys remain safe and secure.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it a very safe option since it blocks the possibility of a hacker gaining access to the private key through an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer for simple 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 potential buyers need to be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for a longer time and have a an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, 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 hardware wallet market and promises that it is 100% safe due to its total isolation from any computer or network. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with its competitors. Although the concept of a fully 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. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly for use like other wallets. It’s also an extremely new product on the market.