The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets on the market in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is the latest entry into the market and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a tool that keeps the private key to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The company’s website and reviews online claim they are 100% secure, however, it’s important to keep in mind that hardware wallets of rival firms like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR with a compromised system which is infected by viruses, your private keys remain protected 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 connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it a very safe option since it blocks the possibility of a hacker getting gain access to private information by an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it’s not tested in battle yet. This is something potential buyers need to keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been around for longer and have a proven 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 currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is currently working on adding the support of more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a fresh competitor in the hardware wallet market, promising to be completely secure due to its complete separation from any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with the other options. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy in use as the other hardware wallets, and it’s a relatively new product available on the market.