The world of cryptocurrency has seen an significant rise in the number of hardware wallets available in recent years, all promising to keep digital assets secure and safe. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for secure storage of digital assets becomes increasingly crucial. It is the Ellipal wallet is a tool which keeps the private keys to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The website of the company and its reviews online claim that their hardware wallet is 100% safe, however it is important to note that the hardware wallets of rival companies such as TREZOR and Ledger are made in a way that no one outside can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised device that is infected with viruses your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it a highly safe option since it blocks the possibility of a hacker getting access to the private key via an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it has not been battle-tested yet. This is something that potential buyers should take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is working to provide the support of more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an brand new player in the market for hardware wallets and promises that it is 100% secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s new, and the product hasn’t 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 other wallets. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy for use like other wallets. It’s also an all-new product that’s available.