The cryptocurrency market has seen an significant rise in the number of hardware wallets available in recent years, all promises that digital assets will be safe and secure. The Ellipal wallet is a new entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe storage of digital assets becomes more crucial. Ellipal wallet Ellipal digital wallet gadget that stores the private key to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to fund its development. The website of the company and its reviews online claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets of competing firms such as TREZOR as well as Ledger are made in a way that no one outside can view your private key. For instance, even if the TREZOR is connected TREZOR with a compromised system that is infected with viruses, your private keys remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of hackers getting gain access to private information by an internet connection. It’s important to note that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it has not been battle-tested yet. This is something potential buyers should take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were in business for longer and have proven track record of security.
In terms of coin support, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide more support for coins in the near future.
In the end In conclusion, the Ellipal wallet is a brand new player in the market for hardware wallets that claims to be completely secure because of its complete separation from any computer or network. Its creators are relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is in line with the other options. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly for use like other wallets. Additionally, it’s an all-new product available on the market.