The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for safe storage of digital assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a tool that keeps the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to help fund its development. The website of the company and its online reviews state they are completely safe, however it is important to note that the hardware wallets of competing businesses such as TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For example, even if it is possible to connect your TREZOR to a compromised computer which is infected by viruses Your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes via cameras on its rear of the. This makes it a highly secure option as it eliminates the possibility of hackers having access to the private key through a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it has not been combat-tested to date. This is something that potential buyers should keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have proven track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is working to add more support for coins in the future.
In conclusion, it is clear that the Ellipal device is an brand new competitor in the market for hardware wallets and promises to be 100% secure due to its complete isolation from any network or computer. Its creators are 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 its price of $149 is on par with its competitors. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallets before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option that has a modern design however, it’s not as easy for use like other wallets, and it’s an extremely new product on the market.