The world of cryptocurrency has seen a significant rise in the number of hardware wallets available on the market in recent years, all promises that digital assets will be safe and secure. Its Ellipal wallet is a brand new entrant in this field and aims to stand out from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure storage of digital assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a tool that keeps the private key to digital assets offline to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website and online reviews claim that their hardware wallet is completely safe, however it is important to note that the hardware wallets of rival businesses like TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For example, even if you connect your TREZOR to a compromised device that has been infected with viruses your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes via a camera on the back of the. This makes it a very safe option since it blocks the possibility of a hacker getting access to the private key via the network. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it isn’t combat-tested to date. This is something prospective buyers must take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for a longer time and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add more support for coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a new player in the market for hardware wallets and promises to be completely secure due to its complete separation from any computer or network. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is in line with other wallets. Although the concept of a totally separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the individual. It’s a safe option that has a modern design however, it’s not as easy to use as other hardware wallets. Additionally, it’s an extremely new product that’s available.