The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware on the market in recent years, all promising that digital assets will be safe and secure. Its Ellipal wallet is a brand new competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets becomes more essential. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets off-line, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer that is infected with viruses your private keys are still secure and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes through cameras on its rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker gaining an access point to your private keys through the network. It’s important to note that this means the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which means that it has not been battle-tested yet. This is something potential buyers need to keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have a an established track record of security.
In terms of support for coin 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 that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide the support of more coins in the future.
In the end, it is clear that the Ellipal device is an fresh player in the market for hardware wallets that claims that it is 100% secure because of its complete inaccessibility to any network or computer. Its creators are relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is in line with the other options. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option with a unique design but it’s not as convenient to use as other wallets. It’s also a relatively new product available on the market.