The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware in recent years, each promises that digital assets will be safe and secure. Its Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe the storage and protection of assets is becoming increasingly important. The Ellipal digital wallet device that stores the private key to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The website of the company and its reviews online claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of competing businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if it is possible to connect your TREZOR with a compromised device that is infected with viruses Your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connections. Instead, it communicates through QR codes using cameras on its back of the. This makes it a very safe option since it blocks the possibility of hackers gaining access to the private key by a network connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it isn’t combat-tested to date. This is something potential buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for a longer time and have a proven track record of security.
In terms of coin support, the Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is currently working on adding the support of more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal device is an brand new competitor in the market of hardware wallets that claims to be completely secure due to its complete separation from any computer or network. Ellipal is a company that’s relatively new and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with other wallets. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the track record and security measures of other wallet options before making a choice. The final decision about whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as easy for use like other wallets. Additionally, it’s a relatively new product that’s available.