The world of cryptocurrency has seen an significant increase in the amount of hardware wallets in recent years. Each promises to keep digital assets secure and safe. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe the storage and protection of assets becomes more crucial. It is the Ellipal wallet is a tool that stores the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim they are 100% safe, however it is important to keep in mind that hardware wallets of rival firms such as TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR to a compromised system that has been infected with viruses your private keys will remain safe and secure.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its back of the. This makes it a very secure choice as it removes the possibility of a hacker getting an access point to your private keys by a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it has not been tested in battle yet. This is something prospective buyers need to be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are on the market for longer and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to provide more support for coins in the near future.
In the end, it is clear that the Ellipal wallet has been a fresh player on the market of hardware wallets, promising to be completely safe due to its total inaccessibility to any computer or network. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins and the price of $149 is in line with its competitors. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record features of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the individual. It’s a safe option with a unique design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s a relatively new product that’s available.