The world of cryptocurrency has seen an significant increase in the number of hardware wallets available on the market in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets is becoming increasingly important. The Ellipal digital wallet device that keeps the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state they are 100% safe, however it is important to note that the hardware wallets of rival firms like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if you connect your TREZOR to a compromised system that has been infected with viruses, your private keys remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker having gain access to private information by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it has not been battle-tested yet. This is something prospective buyers should be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been around for longer and have a proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add the support of more coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal device is an new competitor in the hardware wallet market, promising to be 100% secure due to its complete isolation from any network or computer. Its creators are relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with other wallets. Although the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other wallets prior to making a choice. The final decision about whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other wallets, and it’s a relatively new product available on the market.