The world of cryptocurrency has seen a significant rise in the number of hardware wallets available on the market in recent years. Each promising to keep digital assets secure and safe. Its Ellipal wallet is a new competitor in the field, and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure storage of digital assets is becoming increasingly important. It is the Ellipal wallet can be described as a tool that stores the private key to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews claim they are 100% safe, however it is important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised system which is infected by viruses your private keys will remain safe and secure.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the back of the. This makes it a very safe option since it blocks the possibility of hackers gaining gain access to private information through an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it’s not tested in battle yet. This is something potential buyers should take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were in business for a longer time and have a established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding more support for coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the market of hardware wallets and promises that it is 100% safe due to its total 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 tag at $149 is comparable with other wallets. While the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the track record and security features of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as easy to use as other wallets. Additionally, it’s an all-new product on the market.