The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available on the market in recent years, all claims that digital assets will be secure and safe. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure storage of digital assets is becoming increasingly important. Ellipal wallet Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets from rival firms like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device that has been infected with viruses your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via cameras on its back of the. This makes it a highly secure choice as it removes the possibility of a hacker gaining gain access to private information by an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it has not been battle-tested yet. This is something prospective buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are in business for a longer time and have a an established track record of security.
In terms of coin support, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is working to add the support of more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a new player on the hardware wallet market that claims that it is 100% secure due to its complete isolation from any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price at $149 is comparable with the other options. Although the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other wallets prior to making a choice. The final decision about 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 user-friendly for use like other wallets. Additionally, it’s an extremely new product that’s available.