The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware on the market in recent years. Each promising that digital assets will be safe and secure. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website and reviews online claim they are completely safe, however it is important to remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer which is infected by viruses, your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having an access point to your private keys through a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it’s not tested in battle yet. This is something potential buyers must be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been around for longer and have an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide support for more coins in the future.
In conclusion, the Ellipal device is an new player in the market of hardware wallets and promises that it is 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s new and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag at $149 is comparable with other wallets. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallet options before making a decision. The final decision about whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as easy in use as the other hardware wallets, and it’s an extremely new product available on the market.