The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets on the market in recent years, all claims that digital assets will be secure and safe. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes more essential. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young company on 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 and online reviews claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of competing companies like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if you connect your TREZOR on a compromised computer that is infected with viruses, your private keys are still safe and secure.
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 an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of hackers having access to the private key by the network. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it isn’t tested in battle yet. This is something that potential buyers must be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for a longer time and have a proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. The company is working to add support for more coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a brand new player on the hardware wallet market that claims to be completely secure because of its complete separation from any network or computer. Its creators are new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with its competitors. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other wallets before making a choice. The final decision about whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as easy in use as the other wallets. It’s also a relatively new product that’s available.