The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets in recent years. Each promising to keep digital assets secure and safe. Its Ellipal wallet is a brand new competitor in the field, and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets is becoming increasingly important. It is the Ellipal wallet is a tool that stores the private key to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. They raised $55K in 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 keep in mind that hardware wallets of rival companies like TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For example, even if you connect your TREZOR on a compromised computer which is infected by viruses Your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes via a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of hackers getting access to the private key through a network connection. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it has not been combat-tested to date. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as 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 working to provide support for more coins in the near future.
In the end, it is clear that the Ellipal device is an new player on the market of hardware wallets that claims to be completely safe due to its total inaccessibility to any computer or network. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is on par with other wallets. Although the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s a relatively new product on the market.