The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available in recent years, each promising that digital assets will be safe and secure. Its Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe security for digital asset storage is becoming increasingly important. Ellipal wallet Ellipal digital wallet gadget that keeps the private key to digital assets indefinitely, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state they are completely secure, however, it’s important to note that the hardware wallets of rival businesses such as TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. In the event that, for instance, you connect your TREZOR to a compromised system which is infected by viruses your private keys are still protected and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting gain access to private information via a network connection. It’s important to note that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it isn’t tested in battle yet. This is something potential buyers should be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for longer and have a proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide more support for coins in the future.
In conclusion In conclusion, the Ellipal wallet has been a brand new player in the market of hardware wallets and promises to be completely safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s new, and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag at $149 is comparable with its competitors. While the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as easy in use as the other wallets, and it’s an extremely new product that’s available.