The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware in recent years, all promising to keep digital assets secure and safe. Its Ellipal wallet is a new competitor in the field, and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for safe the storage and protection of assets is becoming increasingly crucial. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim that their hardware wallet is completely safe, however it is important to note that the hardware wallets from rival firms such as TREZOR and Ledger are made in a way that no outside attacker can view your private key. In the event that, for instance, it is possible to connect your TREZOR to a compromised computer which is infected by viruses Your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes via cameras on its rear of the. This makes it a highly secure choice as it removes the possibility of hackers gaining gain access to private information by a network connection. It’s important to note that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it’s not tested in battle yet. This is something potential buyers should keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is currently working on adding more support for coins in the future.
In the end it is clear that it is clear that the Ellipal wallet has been a fresh player on the market for hardware wallets and promises that it is 100% secure due to its complete isolation from any network or computer. Its creators are new and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with the other options. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallets before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option that has a modern design however, it’s not as easy in use as the other hardware wallets, and it’s an extremely new product available on the market.