The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets available in recent years, each promising to keep digital assets secure and safe. The Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes increasingly crucial. The Ellipal wallet is a device that stores the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to fund its development. The company’s website and reviews online claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of competing firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised computer that is infected with viruses Your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of hackers gaining access to the private key through the network. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it’s not combat-tested to date. This is something that potential buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have established track records of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add support for more coins in the near future.
In conclusion, the Ellipal wallet has been a new player in the market of hardware wallets and promises that it is 100% secure due to its complete isolation from any computer or network. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and the price at $149 is comparable with its competitors. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as user-friendly to use as other wallets. Additionally, it’s a relatively new product on the market.