The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets available on the market in recent years, each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure the storage and protection of assets becomes increasingly important. It is the Ellipal wallet is a device which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews claim that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of competing firms such as TREZOR as well as Ledger are made in a way that no one outside can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device which is infected by viruses Your private keys are still protected and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes using cameras on its rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining an access point to your private keys via the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it isn’t combat-tested to date. This is something prospective buyers must be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been around for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is currently working on adding support for more coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a brand new player in the market of hardware wallets that claims to be completely safe due to its total separation from any computer or network. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins and the price of $149 is in line with its competitors. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the history and security features of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient in use as the other hardware wallets. Additionally, it’s an extremely new product on the market.