The world of cryptocurrency has seen an significant increase in the number of hardware wallets available on the market in recent years, each promising that digital assets will be secure and safe. Its Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage becomes increasingly important. Ellipal wallet Ellipal wallet is a gadget that stores the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim they are completely safe, however it is important to note that the hardware wallets of rival companies such as TREZOR as well as Ledger are also designed 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 with a compromised computer 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, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of hackers gaining access to the private key through an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it’s not battle-tested yet. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for longer and have a established track records of security.
Regarding support for coins, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is working to add more support for coins in the near future.
In the end In conclusion, the Ellipal device is an new player on the market for hardware wallets and promises to be completely safe due to its total inaccessibility to any computer or network. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is in line with the other options. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallet options before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as user-friendly to use as other wallets, and it’s an all-new product that’s available.