The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available in recent years. Each claims that digital assets will be safe and secure. The Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure storage of digital assets becomes increasingly important. Ellipal wallet Ellipal wallet is a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state they are 100% secure, however, it’s important to remember that hardware wallets of competing companies like TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For example, even if you connect your TREZOR with a compromised system that is infected with viruses your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through a camera on the rear end. This makes it a very secure option as it eliminates the possibility of hackers gaining access to the private key by an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it’s not battle-tested yet. This is something potential buyers must take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for a longer time and have a an established 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 a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is currently working on adding more support for coins in the future.
In the end it is clear that the Ellipal wallet has been a new player in the hardware wallet market and promises that it is 100% safe due to its total separation from any computer or network. The company behind it is relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with the other options. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallet options before making a choice. The final decision about whether 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, but it’s not as convenient in use as the other hardware wallets. It’s also an all-new product that’s available.