The world of cryptocurrency has seen an significant rise in the number of hardware wallets on the market in recent years, all promises to keep digital assets secure and safe. The Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe the storage and protection of assets becomes more crucial. The Ellipal wallet can be described as a device that stores the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews claim they are 100% secure, however, it’s important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer that is infected with viruses Your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of hackers gaining gain access to private information via an internet connection. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it’s not combat-tested to date. This is something that potential buyers should keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is currently working on adding the support of more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a brand new competitor in the hardware wallet market, promising to be 100% secure because of its complete isolation from any network or computer. Ellipal is a company that’s 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 at $149 is comparable with its competitors. Although the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the security and track record features of other hardware wallet options before making a choice. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other hardware wallets, and it’s an all-new product that’s available.