The world of cryptocurrency has seen an significant rise in the number of hardware wallets in recent years, all promising to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes more essential. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as reviews online claim they are completely secure, but it’s important to note that the hardware wallets of rival firms such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer that has been infected with viruses Your private keys will remain safe and secure.
Its 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 connectivity. Instead, it transmits QR codes via a camera on the rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining an access point to your private keys by 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 for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it isn’t combat-tested to date. This is something that potential buyers need to be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been around for a longer time and have a proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin as well as 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 it is clear that the Ellipal wallet is a fresh competitor in the hardware wallet market and promises to be completely secure because of its complete separation from any network or computer. 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 of $149 is in line with its competitors. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient for use like other hardware wallets. Additionally, it’s an extremely new product available on the market.