The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware in recent years, each promises to keep digital assets secure and safe. Its Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure the storage and protection of assets becomes increasingly essential. The Ellipal wallet can be described as a tool that stores the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website and online reviews claim they are 100% secure, but it’s important to remember that hardware wallets of competing businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to 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 will remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of hackers gaining access to the private key by the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it’s not combat-tested to date. This is something that potential buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for longer and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to add more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal device is an brand new competitor in the market for hardware wallets, promising to be 100% safe due to its total separation from any network or computer. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is on par with other wallets. Although the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is entirely up to the user. It’s a safe option with an innovative design, but it’s not as convenient in use as the other wallets. Additionally, it’s an all-new product that’s available.