The world of cryptocurrency has seen a significant increase in the number of hardware wallets on the market in recent years. Each promises to keep digital assets safe and secure. Its Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets is becoming increasingly important. Ellipal wallet Ellipal wallet is a device which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website and online reviews claim the hardware wallet as completely safe, however it is important to remember that hardware wallets of rival companies like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For example, even if it is possible to connect your TREZOR on a compromised device that is infected with viruses Your private keys remain safe and secure.
The Ellipal wallet is unique in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes via cameras on its rear end. This makes it a highly secure choice as it removes the possibility of a hacker having gain access to private information through a network connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it isn’t battle-tested yet. This is something that potential buyers need to keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for a longer time and have a an established track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide support for more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a new player in the hardware wallet market, promising that it is 100% safe due to its total separation from any computer or network. Its creators are relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is on par with the other options. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the history and security features of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as easy for use like other hardware wallets, and it’s an extremely new product available on the market.