The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available in recent years, each promises to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets is becoming increasingly important. The Ellipal wallet can be described as a gadget that stores the private key to digital assets offline 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 the course of an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state that their hardware wallet is completely safe, however it is important to note that the hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised system which is infected by viruses, your private keys are still secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes through cameras on its back of the. This makes it a highly secure option as it eliminates the possibility of hackers having access to the private key through a network connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it’s not combat-tested to date. This is something that potential buyers should take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were in business for a longer time and have a an established track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to add more support for coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a new competitor in the market for hardware wallets, promising that it is 100% secure due to its complete isolation from any computer or network. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price of $149 is in line with other wallets. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other wallets. It’s also an extremely new product available on the market.