The world of cryptocurrency has witnessed a significant rise in the number of wallets that are hardware in recent years, each promising to keep digital assets safe and secure. The Ellipal wallet is a brand new competitor in the field, and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe storage of digital assets is becoming increasingly essential. The Ellipal digital wallet gadget which keeps the private keys to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to help fund its development. The company’s website and reviews online claim they are completely secure, but it’s important to note that the hardware wallets of rival firms like TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For example, even if you connect your TREZOR with a compromised system which is infected by viruses your private keys remain safe and secure.
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 via an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of a hacker getting gain access to private information by the network. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it’s not tested in battle yet. This is something prospective buyers must take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been around for longer and have established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding support for more coins in the near future.
In the end In conclusion, the Ellipal wallet has been a new player on the hardware wallet market, promising to be completely safe due to its total isolation from any network or computer. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with the other options. While the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other wallets before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other hardware wallets, and it’s a relatively new product on the market.