The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available on the market in recent years, each promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage becomes more essential. It is the Ellipal wallet is a device which keeps the private keys to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website and online reviews state that their hardware wallet is 100% safe, however it is important to note that the hardware wallets of competing companies such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised device which is infected by viruses your private keys are still safe and secure.
Its Ellipal wallet is unique in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes via cameras on its back of the. This makes it a highly safe option since it blocks the possibility of hackers having gain access to private information via the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it isn’t tested in battle yet. This is something prospective buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for a longer time and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding support for more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a fresh player in the market of hardware wallets, promising that it is 100% secure because of its complete inaccessibility to any computer or network. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with its competitors. Although the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as user-friendly to use as other wallets. It’s also an all-new product on the market.