The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware in recent years. Each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe storage of digital assets is becoming increasingly important. The Ellipal wallet is a device that stores the private key to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state they are completely secure, however, it’s important to note that the hardware wallets from rival companies like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For instance, even if you connect your TREZOR with a compromised system which is infected by viruses your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through cameras on its rear of the. This makes it a very secure option as it eliminates the possibility of hackers having an access point to your private keys via an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it isn’t tested in battle yet. This is something prospective buyers need to keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. 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 brand new competitor in the market of hardware wallets that claims to be completely secure because of its complete isolation from any computer or network. The company behind it is relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with the other options. While the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with an innovative design, but it’s not as convenient to use as other hardware wallets, and it’s an extremely new product that’s available.