The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available on the market in recent years. Each promises to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal digital wallet device that keeps the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim that their hardware wallet is completely safe, however it is important to remember that hardware wallets from rival companies such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised computer which is infected by viruses Your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its back of the. This makes it a very secure choice as it removes the possibility of hackers having access to the private key via an internet connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it isn’t combat-tested to date. This is something potential buyers should take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to add the support of more coins in the future.
In conclusion it is clear that the Ellipal device is an fresh competitor in the hardware wallet market and promises to be completely secure due to its complete separation from any computer or network. Its creators are new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price of $149 is in line with its competitors. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallet options before making a choice. The final decision about whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s an extremely new product available on the market.