The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe the storage and protection of assets becomes more important. It is the Ellipal digital wallet device that stores the private key to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets from rival companies such as 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 it is possible to connect your TREZOR with a compromised system that is infected with viruses, your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes via cameras on its back of the. This makes it a highly safe option since it blocks the possibility of a hacker gaining access to the private key by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it isn’t tested in battle yet. This is something potential buyers need to keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for a longer time and have a 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 is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is currently working on adding support for more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh competitor in the market for hardware wallets and promises to be 100% safe due to its total separation from any computer or network. Ellipal is a company that’s new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with the other options. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the track record and security measures of other wallets before making a decision. 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 with a unique design however, it’s not as user-friendly to use as other hardware wallets, and it’s an all-new product available on the market.