The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware in recent years, each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for secure security for digital asset storage becomes increasingly essential. It is the Ellipal digital wallet gadget that stores the private key to digital assets indefinitely, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised system that has been infected with viruses, your private keys will remain protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the rear end. This makes it a very safe option since it blocks the possibility of hackers gaining an access point to your private keys via a network connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it isn’t battle-tested yet. This is something prospective buyers must take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have a established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding more support for coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a new competitor in the market for hardware wallets and promises to be 100% secure due to its complete separation from any computer or network. The company behind it is new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is on par with its competitors. Although the idea of a completely separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design but it’s not as convenient for use like other hardware wallets. Additionally, it’s an extremely new product on the market.