The world of cryptocurrency has seen a significant increase in the number of wallets that are hardware on the market in recent years. Each promising to keep digital assets secure and safe. Its Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself 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 is becoming increasingly crucial. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The company’s website and reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of competing firms like TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. In the event that, for instance, it is possible to connect your TREZOR to a compromised system which is infected by viruses Your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it a very secure option as it eliminates the possibility of hackers getting gain access to private information by an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which means that it’s not battle-tested yet. This is something potential buyers need to keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have established track records of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. The company is working to add support for more coins in the near future.
In conclusion it is clear that the Ellipal device is an brand new player on the market for hardware wallets that claims to be completely safe due to its total separation from any computer or network. Ellipal is a company that’s relatively new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with the other options. While the idea of a totally separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the individual. It’s a very secure option that has a modern design but it’s not as convenient to use as other wallets, and it’s a relatively new product available on the market.