The world of cryptocurrency has seen a significant increase in the amount of hardware wallets in recent years, each promising that digital assets will be safe and secure. Its Ellipal wallet is the latest entrant in this field and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for secure security for digital asset storage is becoming increasingly important. Ellipal wallet Ellipal digital wallet device that stores the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state they are 100% secure, however, it’s important to keep in mind that hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer which is infected by viruses Your private keys remain safe and secure.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes through an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker getting access to the private key through the network. It’s important to note that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it has not been battle-tested yet. This is something potential buyers must take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. The company is working to add the support of more coins in the near future.
In conclusion, it is clear that the Ellipal wallet has been a brand new player in the hardware wallet market that claims to be completely secure because of its complete isolation from any computer or network. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with its competitors. While the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the individual. It’s a safe option with a unique design but it’s not as convenient to use as other hardware wallets. It’s also a relatively new product that’s available.