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. Its Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for safe security for digital asset storage is becoming increasingly important. Ellipal wallet Ellipal wallet is a gadget that keeps the private key to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state they are 100% secure, but it’s important to note that the hardware wallets of rival firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses your private keys remain secure and safe.
Its 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 through QR codes via cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of hackers gaining an access point to your private keys via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it isn’t combat-tested to date. This is something that potential buyers need to be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer and have established track records of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to provide the support of more coins in the future.
In conclusion it is clear that it is clear that the Ellipal device is an brand new player in the hardware wallet market that claims to be completely secure because of its complete inaccessibility to any computer or network. 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 the price at $149 is comparable with its competitors. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the track record and security measures of other hardware wallets prior to making a choice. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option that has a modern design but it’s not as convenient to use as other wallets. Additionally, it’s a relatively new product on the market.