The world of cryptocurrency has seen a significant increase in the amount of hardware wallets on the market in recent years. Each promising that digital assets will be secure and safe. The Ellipal wallet is a new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure storage of digital assets becomes more crucial. It is the Ellipal wallet is a device that keeps the private key to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The website of the company and its reviews online claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR with a compromised system which is infected by viruses, your private keys will remain protected and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the rear of the. This makes it a very safe option since it blocks the possibility of a hacker gaining an access point to your private keys via an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it’s not tested in battle yet. This is something potential buyers should be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin and 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. But, the company is working to provide more support for coins in the future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an brand new player in the market for hardware wallets that claims to be 100% secure due to its complete separation from any network or computer. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is on par with the other options. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an all-new product on the market.