The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets on the market in recent years. Each promises that digital assets will be secure and safe. Its 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 is becoming more widespread, the need for safe security for digital asset storage becomes more important. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets offline, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of competing businesses such as TREZOR and Ledger are also designed in a way that no one outside can view your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised system which is infected by viruses Your private keys remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the back of the. This makes it a very secure choice as it removes the possibility of a hacker having gain access to private information through a network connection. It’s important to note that this means the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it isn’t tested in battle yet. This is something that potential buyers should be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are in business for a longer time and have a an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is working to provide support for more coins in the near future.
In conclusion In conclusion, the Ellipal device is an brand new player in the hardware wallet market and promises that it is 100% safe due to its total isolation from any network or computer. The company behind it is new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is on par with the other options. Although the concept of a totally separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. Additionally, it’s a relatively new product available on the market.