The world of cryptocurrency has seen a significant increase in the amount of hardware wallets on the market in recent years. Each claims that digital assets will be safe and secure. The Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage becomes more crucial. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews state they are completely safe, however it is important to remember that hardware wallets of competing firms like TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For example, even if you connect your TREZOR to a compromised computer which is infected by viruses your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes via cameras on its back of the. This makes it an extremely safe option since it blocks the possibility of hackers having gain access to private information via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it’s not combat-tested to date. This is something potential buyers should be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to add the support of more coins in the near future.
In conclusion, the Ellipal device is an new player on the market for hardware wallets and promises to be completely secure because of its complete isolation 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 supports the use of a small number of coins and the price at $149 is comparable with the other options. Although the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other hardware wallets before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an all-new product that’s available.