The world of cryptocurrency has seen an significant rise in the number of hardware wallets on the market in recent years. Each promises to keep digital assets safe and secure. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread, the need for safe storage of digital assets becomes increasingly crucial. It is the Ellipal wallet is a gadget that stores the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The website of the company and its online reviews claim that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if it is possible to connect your TREZOR with a compromised device that is infected with viruses your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes via an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of hackers getting gain access to private information by the network. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it has not been combat-tested to date. This is something that potential buyers should keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for a longer time and have a proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding the support of more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal device is an fresh player on the hardware wallet market, promising to be 100% secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with the other options. Although the concept of a completely isolated hardware wallet is intriguing however, you should consider the track record and security features of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice with a unique design but it’s not as convenient in use as the other wallets, and it’s an extremely new product on the market.