The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware on the market in recent years, all promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for safe storage of digital assets is becoming increasingly crucial. Ellipal wallet Ellipal digital wallet device which keeps the private keys to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews state that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of competing firms such as TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For instance, even if it is possible to connect your TREZOR on 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 isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through cameras on its back of the. This makes it a very safe option since it blocks the possibility of hackers gaining an access point to your private keys by a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it has not been combat-tested to date. This is something potential buyers need to take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) were on the market for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an fresh player in the market for hardware wallets and promises to be 100% secure due to its complete inaccessibility to any network or computer. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with its competitors. While the idea of a totally isolated hardware wallet is intriguing 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 the Ellipal device is well worth the cost is up to the individual. It’s a safe option with an innovative design, but it’s not as convenient to use as other hardware wallets. It’s also an all-new product on the market.