The world of cryptocurrency has seen a significant increase in the number of hardware wallets available on the market in recent years. Each claims that digital assets will be safe and secure. Its Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure the storage and protection of assets becomes more essential. Ellipal wallet Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews state the hardware wallet as completely safe, however it is important to note that the hardware wallets of competing firms such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if you connect your TREZOR on a compromised computer that has been infected with viruses Your private keys are still secure and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker gaining an access point to your private keys through an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it’s not battle-tested yet. This is something potential buyers must keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to add support for more coins in the near future.
In conclusion it is clear that the Ellipal wallet is a new player in the market for hardware wallets and promises to be completely secure due to its complete inaccessibility to any network or computer. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with other wallets. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallet options before making a choice. The final decision about whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy to use as other hardware wallets, and it’s a relatively new product on the market.