The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets on the market in recent years, all promises to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets becomes increasingly crucial. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website and reviews online claim they are completely secure, but it’s important to remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if you connect your TREZOR on a compromised device which is infected by viruses your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes using cameras on its back of the. 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 worth noting that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it isn’t battle-tested yet. This is something prospective buyers should take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been in business for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding more support for coins in the future.
In the end, the Ellipal device is an fresh player in the hardware wallet market and promises to be 100% secure due to its complete isolation from any computer or network. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with other wallets. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallets before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other wallets. It’s also an all-new product on the market.