The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware in recent years, each promises to keep digital assets secure and safe. The Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews claim the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of competing firms such as TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised computer which is infected by viruses, your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of hackers having an access point to your private keys through an internet connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it’s not tested in battle yet. This is something that potential buyers need to take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been around for a longer time and have a proven 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 currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add the support of more coins in the future.
In the end, the Ellipal device is an new player on the market for hardware wallets, promising to be 100% secure because of its complete inaccessibility to any network or computer. The company behind it is new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is in line with the other options. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice with a unique design but it’s not as convenient in use as the other wallets. Additionally, it’s an extremely new product available on the market.