The world of cryptocurrency has seen a significant rise in the number of hardware wallets available on the market in recent years, each promising that digital assets will be safe and secure. The Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure storage of digital assets becomes more crucial. The Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews claim the hardware wallet as completely secure, but it’s important to note that the hardware wallets of competing businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. In the event that, for instance, you connect your TREZOR to a compromised system which is infected by viruses, your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes using an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of a hacker getting access to the private key via a network connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it isn’t battle-tested yet. This is something prospective buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for a longer time and have a an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports only a small 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 might be a worry for some users. However, the company is currently working on adding more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet is a fresh competitor in the market for hardware wallets and promises that it is 100% safe due to its total inaccessibility to any computer or network. Ellipal is a company that’s 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 its price of $149 is in line with the other options. Although the concept of a fully 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 decision. In the end, the decision on whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other wallets. It’s also an extremely new product that’s available.