The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes more important. Ellipal wallet Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state they are completely secure, however, it’s important to remember that hardware wallets from rival firms such as TREZOR and Ledger are also designed in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on 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 network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes through cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of hackers having gain access to private information through the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it has not been combat-tested to date. This is something that potential buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have a an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is working to add the support of more coins in the near future.
In conclusion, the Ellipal wallet is a brand new competitor in the market for hardware wallets and promises to be completely secure due to its complete separation from any computer or network. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and the price at $149 is comparable with other wallets. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallets before making a choice. In the end, the decision on 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 but it’s not as convenient to use as other hardware wallets. It’s also an all-new product available on the market.