The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware in recent years. Each promising that digital assets will be safe and secure. Its Ellipal wallet is a brand new entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets is becoming increasingly important. The Ellipal digital wallet gadget which keeps the private keys to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. It raised $55K through an Indiegogo campaign to fund its development. The company’s website and online reviews state they are completely secure, however, it’s important to remember that hardware wallets of rival companies like TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised device that is infected with viruses your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes using an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker having an access point to your private keys via the network. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it isn’t battle-tested yet. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for longer and have an established track record 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 that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to provide more support for coins in the future.
In conclusion, the Ellipal wallet is a fresh competitor in the market of hardware wallets and promises to be completely secure because of its complete isolation from any computer or network. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is in line with its competitors. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallet options before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient in use as the other wallets, and it’s an all-new product on the market.