The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available in recent years, all promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entrant in this field and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes more important. Ellipal wallet Ellipal digital wallet gadget that keeps the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim they are 100% safe, however it is important to remember that hardware wallets from rival companies like TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised device that is infected with viruses your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes through an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of a hacker having an access point to your private keys by an internet connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it’s not combat-tested to date. This is something that potential buyers need to be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for longer and have 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 is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. The company is currently working on adding the support of more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh competitor in the market of hardware wallets, promising that it is 100% safe due to its total isolation from any computer or network. The company behind it is new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is in line with its competitors. Although the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallets prior to making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as easy in use as the other hardware wallets. It’s also a relatively new product that’s available.