The cryptocurrency market has seen a significant rise in the number of hardware wallets available on the market in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets indefinitely, preventing hackers from stealing them remotely.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state the hardware wallet as 100% safe, however it is important to note that the hardware wallets from rival companies like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised system that is infected with viruses your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes via cameras on its rear end. This makes it a very safe option since it blocks the possibility of hackers gaining gain access to private information through a network connection. It’s important to note that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it isn’t combat-tested to date. This is something prospective buyers must be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are around for longer and have a an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add support for more coins in the near future.
In conclusion it is clear that the Ellipal device is an brand new player on the market of hardware wallets that claims to be completely secure due to its complete isolation from any computer or network. Its creators are new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price at $149 is comparable with its competitors. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a choice. The final decision about whether the Ellipal device is well worth the cost is up to the individual. It’s a safe option with a unique design however, it’s not as easy to use as other wallets. It’s also an all-new product on the market.