The world of cryptocurrency has seen an significant increase in the number of hardware wallets in recent years, each 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 competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure security for digital asset storage is becoming increasingly important. The Ellipal wallet is a gadget that keeps the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim they are completely safe, however it is important to note that the hardware wallets of competing firms such as TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR with a compromised computer that has been infected with viruses Your private keys are still secure 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 transmits QR codes using a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of hackers having gain access to private information via an internet connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it’s not combat-tested to date. This is something that potential buyers should take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been on the market for a longer time and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding support for more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a new competitor in the market of hardware wallets that claims to be completely secure due to its complete separation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is in line with other wallets. Although the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallets prior to making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice that has a modern design but it’s not as convenient in use as the other wallets, and it’s a relatively new product on the market.