The world of cryptocurrency has seen a significant increase in the amount of hardware wallets in recent years. Each promises to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for safe security for digital asset storage becomes more essential. The Ellipal wallet is a device that stores the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal, the company behind 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 and online reviews state they are 100% secure, however, it’s important to note that the hardware wallets of rival firms such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For example, even if it is possible to connect your TREZOR with a compromised device that is infected with viruses Your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes via cameras on its rear of the. This makes it a very secure choice as it removes the possibility of a hacker getting an access point to your private keys via the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it isn’t combat-tested to date. This is something that potential buyers need to keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is working to provide the support of more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a new player on the hardware wallet market and promises to be completely safe due to its total separation from any network or computer. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is in line with the other options. While the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallet options before making a choice. The final decision about whether or not the Ellipal product is worthwhile for 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 wallets. Additionally, it’s an extremely new product on the market.