The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware in recent years, all promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure storage of digital assets becomes more crucial. It is the Ellipal wallet can be described as a device that stores the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to fund its development. The company’s website as well as online reviews state that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR with a compromised device that is infected with viruses, your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes via a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker getting gain access to private information through the network. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it isn’t battle-tested yet. This is something that potential buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer 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 currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as 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. But, the company is working to provide the support of more coins in the future.
In the end, the Ellipal wallet is a brand new player in the hardware wallet market that claims to be completely secure because of its complete isolation from any computer or network. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and its price at $149 is comparable with other wallets. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallets before making a decision. In the end, the decision on whether the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as easy for use like other wallets. Additionally, it’s a relatively new product available on the market.