The cryptocurrency market has witnessed a significant rise in the number of hardware wallets on the market in recent years. Each promises to keep digital assets secure and safe. The Ellipal wallet is a new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe security for digital asset storage is becoming increasingly important. The Ellipal wallet is a device which keeps the private keys to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews state that their hardware wallet is completely safe, however it is important to remember that hardware wallets from rival firms such as TREZOR and Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised device which is infected by viruses, your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes using cameras on its rear of the. This makes it a highly safe option since it blocks the possibility of hackers having access to the private key via an internet connection. It’s important to note that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it’s not combat-tested to date. This is something that potential buyers must keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have a an established track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to provide the support of more coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a fresh competitor in the market of hardware wallets and promises to be 100% safe due to its total isolation 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 its price of $149 is on par with other wallets. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly in use as the other hardware wallets, and it’s an all-new product on the market.