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 secure and safe. Its Ellipal wallet is a brand new entrant in this field and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no one outside can view your private key. For instance, even if you connect your TREZOR on a compromised device which is infected by viruses Your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of a hacker having an access point to your private keys via the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it’s not combat-tested to date. This is something that potential buyers must take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to provide more support for coins in the future.
In conclusion, the Ellipal device is an brand new player on the market for hardware wallets, promising to be 100% secure because of its complete separation from any computer or network. Its creators are relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with the other options. Although the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. It’s also a relatively new product that’s available.