The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available in recent years. Each promising to keep digital assets secure and safe. The Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe security for digital asset storage becomes increasingly important. Ellipal wallet Ellipal wallet is a tool which keeps the private keys to digital assets offline, preventing hackers from stealing them remotely.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews claim the hardware wallet as 100% safe, however it is important to remember that hardware wallets of competing companies like TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised device that is infected with viruses Your private keys are still secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through an image camera at the rear of the. This makes it a very secure choice as it removes the possibility of hackers having access to the private key through a network connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it has not been combat-tested to date. This is something potential buyers should be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for longer and have a an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports a limited number of coins, including 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. However, the company is currently working on adding more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a brand new player on the market for hardware wallets and promises that it is 100% safe due to its total separation from any computer or network. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with its competitors. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallet options before making a choice. The final decision about whether the Ellipal wallet is 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 easy for use like other hardware wallets. Additionally, it’s an extremely new product available on the market.