The cryptocurrency market has witnessed a significant increase in the number of hardware wallets in recent years, all claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for safe the storage and protection of assets is becoming increasingly essential. The Ellipal wallet is a device which keeps the private keys to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young company on the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of competing firms such as TREZOR and Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised system which is infected by viruses Your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through cameras on its back of the. This makes it a very safe option since it blocks the possibility of a hacker gaining gain access to private information through an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it isn’t tested in battle yet. This is something that potential buyers must be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have a an established track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. But, the company is working to add support for more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a brand new player in the market for hardware wallets and promises to be 100% secure because of its complete separation from any network or computer. The company behind it is relatively new and the product has not been battle-tested 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 hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as user-friendly to use as other wallets. It’s also a relatively new product on the market.