The world of cryptocurrency has seen a significant increase in the number of hardware wallets available in recent years, each promising to keep digital assets safe and secure. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure the storage and protection of assets becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. They raised $55K in an Indiegogo campaign to help fund its development. The company’s website and reviews online claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets of rival companies such as TREZOR as well as Ledger are made in a way that no one outside can see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses, your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes through a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of hackers getting an access point to your private keys by a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it’s not combat-tested to date. This is something that potential buyers should keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have a established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal device is an fresh player in the hardware wallet market, promising to be 100% safe due to its total inaccessibility to any network or computer. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is on par with the other options. While the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice with a unique design but it’s not as convenient for use like other wallets, and it’s a relatively new product on the market.