The world of cryptocurrency has seen an significant rise in the number of hardware wallets available in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe storage of digital assets is becoming increasingly crucial. The Ellipal wallet is a gadget that stores the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website as well as reviews online claim that their hardware wallet is 100% safe, however it is important to remember that hardware wallets from rival firms like TREZOR as well as Ledger are also designed 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 computer that is infected with viruses, your private keys remain protected and safe.
Its 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 communicates via QR codes through cameras on its rear end. This makes it a very secure option as it eliminates the possibility of a hacker getting gain access to private information via a network connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it’s not combat-tested to date. This is something prospective buyers should take into consideration when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been around for a longer time and have a established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is currently working on adding support for more coins in the future.
In the end, it is clear that the Ellipal wallet has been a fresh player on the hardware wallet market and promises to be 100% secure due to its complete separation from any network or computer. Ellipal is a company that’s relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is in line with its competitors. Although the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option with a unique design however, it’s not as easy to use as other hardware wallets. Additionally, it’s a relatively new product on the market.