The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available on the market in recent years, each promising that digital assets will be safe and secure. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage is becoming increasingly important. It is the Ellipal wallet is a device that stores the private key to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and reviews online claim that their hardware wallet is completely secure, but it’s important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For example, even if it is possible to connect your TREZOR with a compromised system that is infected with viruses your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes via an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of a hacker having an access point to your private keys via a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it’s not tested in battle yet. This is something prospective buyers should take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been around for longer and have a established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding the support of more coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal device is an brand new player on the hardware wallet market that claims that it is 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and the price at $149 is comparable with the other options. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallets before making a choice. Ultimately, the decision of 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 wallets. Additionally, it’s a relatively new product on the market.