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. The Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure the storage and protection of assets becomes increasingly important. It is the Ellipal digital wallet gadget that keeps the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state they are completely secure, however, it’s important to remember that hardware wallets of competing businesses like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device that has been infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes using a camera on the rear of the. This makes it a very safe option since it blocks the possibility of hackers getting gain access to private information via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it’s not tested in battle yet. This is something that potential buyers should be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are in business for longer and have a established track records of security.
In terms of coin support 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 less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is working to provide the support of more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal device is an brand new competitor in the market for hardware wallets and promises that it is 100% secure due to its complete inaccessibility to any network or computer. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is in line with other wallets. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallet options before making a decision. The final decision about whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other hardware wallets. It’s also a relatively new product on the market.