The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets in recent years, each promises to keep digital assets secure and safe. The Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for safe security for digital asset storage is becoming increasingly essential. The Ellipal wallet can be described as a device that keeps the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no one outside can view your private key. In the event that, for instance, you connect your TREZOR with a compromised system which is infected by viruses, your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of hackers getting an access point to your private keys through the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it isn’t tested in battle yet. This is something prospective buyers need to keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been on the market for a longer time and have a an established track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is currently working on adding the support of more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal device is an new competitor in the market of hardware wallets, promising that it is 100% secure due to its complete separation from any computer or network. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is on par with its competitors. While the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other hardware wallet options before making a choice. The final decision about whether the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with an innovative design, however, it’s not as easy to use as other hardware wallets. Additionally, it’s an all-new product available on the market.