The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is a brand new entrant in this field and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes increasingly important. Ellipal wallet Ellipal wallet is a tool that keeps the private key to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. 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 businesses like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised computer that has been infected with viruses your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes using an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of hackers gaining gain access to private information by the network. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, meaning that it’s not combat-tested to date. This is something that potential buyers need to be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are in business for a longer time and have a an established track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin, and 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 working to add the support of more coins in the future.
In conclusion, it is clear that the Ellipal wallet has been a new player in the hardware wallet market and promises to be 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag at $149 is comparable with its competitors. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallet options before making a decision. In the end, the decision on whether or not 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, but it’s not as convenient in use as the other hardware wallets, and it’s a relatively new product on the market.