The world of cryptocurrency has seen an significant increase in the number of hardware wallets in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure the storage and protection of assets becomes increasingly crucial. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews state the hardware wallet as completely secure, but it’s important to remember that hardware wallets from rival businesses like TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised device that is infected with viruses, your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes via cameras on its rear end. This makes it a very safe option since it blocks the possibility of hackers getting an access point to your private keys via a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it isn’t battle-tested yet. This is something that potential buyers must take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for a longer time and have a established track records of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add the support of more coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a new player in the hardware wallet market that claims that it is 100% secure because of its complete inaccessibility to any network or computer. The company behind it is relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with its competitors. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallets before making a choice. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as user-friendly for use like other wallets. Additionally, it’s an extremely new product available on the market.