The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware on the market in recent years, all promises to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure the storage and protection of assets becomes increasingly important. It is the Ellipal wallet is a tool which keeps the private keys to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, you connect your TREZOR on a compromised computer which is infected by viruses, your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes through cameras on its rear of the. This makes it a highly safe option since it blocks the possibility of a hacker gaining an access point to your private keys through the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it has not been combat-tested to date. This is something prospective buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have a established track records of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to provide the support of more coins in the near future.
In the end, it is clear that the Ellipal device is an new player in the hardware wallet market and promises that it is 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s 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. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is 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 for use like other wallets. Additionally, it’s an extremely new product that’s available.