The world of cryptocurrency has seen a significant increase in the number of hardware wallets on the market in recent years, all promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure the storage and protection of assets is becoming increasingly important. The Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The website of the company and its reviews online claim the hardware wallet as completely secure, but it’s important to note that the hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR to a compromised computer that is infected with viruses your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of a hacker having access to the private key via an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it’s not combat-tested to date. This is something potential buyers should keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is working to add support for more coins in the future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an new player in the market for hardware wallets and promises that it is 100% safe due to its total separation from any network or computer. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with its competitors. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the history and security features of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other hardware wallets. It’s also an extremely new product that’s available.