The world of cryptocurrency has seen an significant increase in the amount of hardware wallets on the market in recent years, all claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes more essential. Ellipal wallet Ellipal wallet is a tool that stores the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website and online reviews claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets from rival companies like TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes using cameras on its back of the. This makes it a very safe option since it blocks the possibility of a hacker having an access point to your private keys through the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it has not been tested in battle yet. This is something potential buyers need to take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been on the market for longer and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding more support for coins in the near future.
In the end it is clear that the Ellipal wallet has been a fresh competitor in the market of hardware wallets that claims that it is 100% secure because of its complete separation from any network or computer. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag at $149 is comparable with its competitors. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other wallets before making a decision. The final decision about whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly for use like other hardware wallets, and it’s an all-new product that’s available.