The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets available in recent years. Each promising that digital assets will be secure and safe. The Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for secure the storage and protection of assets becomes increasingly important. It is the Ellipal digital wallet tool which keeps the private keys to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews claim that their hardware wallet is 100% safe, however it is important to remember that hardware wallets from rival companies like TREZOR and Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, you connect your TREZOR with 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 isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the rear of the. This makes it a very safe option since it blocks the possibility of hackers having gain access to private information by the network. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it has not been tested in battle yet. This is something prospective buyers need to take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been around for a longer time 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 supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add support for more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal device is an new player on the market of hardware wallets and promises to be completely secure because of its complete isolation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with its competitors. While the idea of a completely exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets prior to making a choice. The final decision about whether 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, however, it’s not as easy for use like other hardware wallets. Additionally, it’s an extremely new product that’s available.