The world of cryptocurrency has witnessed a significant increase in the amount of wallets that are hardware in recent years. Each promises that digital assets will be secure and safe. Its Ellipal wallet is a new entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure security for digital asset storage becomes more essential. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets from rival firms like TREZOR and Ledger are made in a way that no one outside can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised system that is infected with viruses, your private keys remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers gaining access to the private key by a network connection. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it’s not combat-tested to date. This is something potential buyers must take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding support for more coins in the future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an fresh player on the market of hardware wallets and promises that it is 100% safe due to its total isolation from any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and the price at $149 is comparable with other wallets. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is up to the individual. It’s a very secure option with a unique design however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product that’s available.