The world of cryptocurrency has seen a significant increase in the number of hardware wallets on the market in recent years, each claims to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure storage of digital assets is becoming increasingly essential. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website as well as online reviews state they are 100% secure, however, it’s important to note that the hardware wallets of competing firms like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR on a compromised computer that has been infected with viruses your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes via a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker having an access point to your private keys by the network. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it isn’t combat-tested to date. This is something potential buyers need to take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer and have a established track records of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to provide more support for coins in the near future.
In the end In conclusion, the Ellipal device is an fresh competitor in the market of hardware wallets, promising to be completely secure because of its complete separation from any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is on par with the other options. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for 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 in use as the other wallets, and it’s an extremely new product available on the market.