The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available in recent years, all promising that digital assets will be secure and safe. Ellipal is one of them. 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 is becoming more widespread, the need for safe storage of digital assets becomes increasingly crucial. The Ellipal digital wallet device which keeps the private keys to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state that their hardware wallet is completely safe, however it is important to note that the hardware wallets of rival businesses like TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer which is infected by viruses, your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates through QR codes using a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker gaining access to the private key through an internet connection. It’s important to note that this means the Ellipal wallet is not as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it has not been combat-tested to date. This is something that potential buyers should keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are in business for a longer time and have a established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is working to provide more support for coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a brand new competitor in the market for hardware wallets that claims that it is 100% secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with its competitors. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with a unique design but it’s not as convenient to use as other wallets, and it’s an all-new product on the market.