The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets available in recent years, all promising to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets is becoming increasingly important. It is the Ellipal digital wallet device which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews claim they are 100% secure, however, it’s important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer that has been infected with viruses Your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via a camera on the back of the. This makes it a very secure option as it eliminates the possibility of hackers gaining 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 like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it isn’t battle-tested yet. This is something that potential buyers need to take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were on the market for longer and have a an established track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with 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. However, the company is working to provide support for more coins in the future.
In the end In conclusion, the Ellipal wallet is a new competitor in the market of hardware wallets, promising that it is 100% secure because of its complete inaccessibility to any network or computer. 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 tag of $149 is in line with its competitors. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other wallets before making a choice. In the end, the decision on whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy for use like other hardware wallets. It’s also a relatively new product that’s available.