The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware in recent years, all claims to keep digital assets secure and safe. Its Ellipal wallet is a new competitor in the field, and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal wallet is a device that stores the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website and reviews online claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets of rival firms like TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For example, even if you connect your TREZOR to a compromised computer that has been infected with viruses, your private keys will remain protected and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through a camera on the rear of the. 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. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it isn’t tested in battle yet. This is something that potential buyers should keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for longer and have established track records 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 only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to provide more support for coins in the future.
In conclusion, the Ellipal wallet has been a fresh player in the market of hardware wallets, promising that it is 100% safe due to its total inaccessibility to any computer or network. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is on par with the other options. Although the concept of a totally separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallets prior to making a decision. The final decision about whether the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy to use as other hardware wallets. It’s also a relatively new product that’s available.