The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available on the market in recent years, all claims that digital assets will be secure and safe. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a tool that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets from rival companies like TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR on a compromised device that has been infected with viruses your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the rear end. This makes it a highly secure choice as it removes the possibility of hackers having access to the private key by the network. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it has not been battle-tested yet. This is something prospective buyers should keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. The company is working to provide support for more coins in the near future.
In the end, the Ellipal wallet is a new competitor in the market for hardware wallets, promising to be 100% safe due to its total separation from any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with its competitors. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security features of other hardware wallet options before making a decision. The final decision about whether the Ellipal wallet is worth the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other hardware wallets. It’s also an extremely new product that’s available.