The world of cryptocurrency has witnessed a significant rise in the number of wallets that are hardware in recent years, each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for safe the storage and protection of assets is becoming increasingly important. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews claim the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of competing companies such as TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. In the event that, for instance, you connect your TREZOR with a compromised computer that is infected with viruses Your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through a camera on the rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker having an access point to your private keys through a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it isn’t combat-tested to date. This is something prospective buyers should take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have 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 currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is currently working on adding support for more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal device is an fresh player in the market of hardware wallets, promising that it is 100% secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins, and its price tag at $149 is comparable with its competitors. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, but it’s not as convenient in use as the other hardware wallets, and it’s an all-new product on the market.