The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets on the market in recent years, all promising to keep digital assets safe and secure. Its Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for safe storage of digital assets becomes more important. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website and online reviews claim they are 100% secure, however, it’s important to keep in mind that hardware wallets from rival companies such as TREZOR and Ledger are also designed in a way that no one outside can see your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised computer that is infected with viruses your private keys remain secure and safe.
Its Ellipal wallet is distinctive 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 through an image camera at the rear end. This makes it a very safe option since it blocks the possibility of a hacker getting access to the private key via an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t 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 relatively new to the market, which implies that it isn’t battle-tested yet. This is something that potential buyers must be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for a longer time and have a established track records of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is working to provide support for more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal device is an new player on the hardware wallet market and promises to be 100% secure because of its complete isolation from any network or computer. Its creators are new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price at $149 is comparable with other wallets. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy in use as the other wallets. It’s also an all-new product that’s available.