The world of cryptocurrency has witnessed a significant rise in the number of wallets that are hardware in recent years, each promises that digital assets will be safe and secure. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure storage of digital assets becomes increasingly essential. The Ellipal wallet is a tool that stores the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state they are 100% safe, however it is important to remember that hardware wallets of competing businesses such as TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised device which is infected by viruses your private keys are still secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer 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 secure choice as it removes the possibility of a hacker gaining an access point to your private keys by a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it has not been tested in battle yet. This is something potential buyers must take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been around for a longer time and have a proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add more support for coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a brand new player in the market of hardware wallets, promising that it is 100% safe due to its total separation from any network or computer. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with other wallets. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the history and security features of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a safe option with an innovative design, however, it’s not as user-friendly to use as other hardware wallets. It’s also a relatively new product on the market.