The world of cryptocurrency has seen an significant rise in the number of hardware wallets in recent years. Each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure storage of digital assets becomes increasingly crucial. It is the Ellipal wallet can be described as a tool that stores the private key to digital assets indefinitely, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of rival companies like 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 on a compromised device that has been infected with viruses, your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes via a camera on the back of the. This makes it a very safe option since it blocks the possibility of a hacker gaining gain access to private information via a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it has not been tested in battle yet. This is something that potential buyers need to take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for longer and have established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to provide support for more coins in the near future.
In the end In conclusion, the Ellipal wallet is a fresh competitor in the market of hardware wallets that claims to be completely secure because of its complete inaccessibility to any computer or network. Its creators are new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is in line with its competitors. Although the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as easy for use like other wallets, and it’s an extremely new product on the market.