The world of cryptocurrency has seen a significant increase in the number of hardware wallets available on the market in recent years, all promising to keep digital assets secure and safe. The Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure storage of digital assets is becoming increasingly important. Ellipal wallet Ellipal digital wallet device that keeps the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of competing businesses 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 device which is infected by viruses Your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes using cameras on its rear end. This makes it an extremely secure option as it eliminates the possibility of hackers getting access to the private key through the network. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it’s not battle-tested yet. This is something potential buyers should be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were on the market for longer and have proven track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is working to provide the support of more coins in the future.
In the end In conclusion, the Ellipal wallet is a brand new competitor in the hardware wallet market, promising to be 100% secure due to its complete separation from any network or computer. Ellipal is a company that’s new, and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price of $149 is in line with the other options. Although the concept of a fully isolated hardware wallet is intriguing, it’s important to consider the history and security features of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other wallets. It’s also a relatively new product that’s available.