The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets in recent years. Each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for secure security for digital asset storage becomes more essential. Ellipal wallet Ellipal wallet is a gadget which keeps the private keys to digital assets offline, preventing hackers from stealing them remotely.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim that their hardware wallet is completely secure, but it’s important to remember that hardware wallets of rival firms like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. In the event that, for instance, it is possible to connect your TREZOR to a compromised system which is infected by viruses, your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique 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 using an image camera at the rear end. This makes it a highly secure choice as it removes the possibility of hackers getting an access point to your private keys through a network connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it’s not combat-tested to date. This is something potential buyers must take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been around for longer and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is working to add more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a new player in the hardware wallet market that claims to be completely safe due to its total separation from any computer or network. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with the other options. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as user-friendly in use as the other wallets, and it’s a relatively new product that’s available.