The world of cryptocurrency has seen an significant rise in the number of hardware wallets on the market in recent years. Each claims that digital assets will be safe and secure. The Ellipal wallet is a new entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for secure storage of digital assets becomes more crucial. The Ellipal digital wallet gadget which keeps the private keys to digital assets off-line to prevent hackers from taking 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 fund its development. The company’s website and online reviews state the hardware wallet as completely secure, but it’s important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR on a compromised device that has been infected with viruses Your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the rear of the. This makes it an extremely secure choice as it removes the possibility of hackers getting gain access to private information through the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it isn’t tested in battle yet. This is something potential buyers need to take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer 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 conclusion, it is clear that the Ellipal device is an new player on the market for hardware wallets that claims that it is 100% secure because of its complete separation from any computer or network. The company behind it is relatively 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 the price of $149 is on par with its competitors. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallets prior to making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with an innovative design, but it’s not as convenient for use like other hardware wallets. It’s also an all-new product that’s available.