The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets in recent years, all promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe storage of digital assets is becoming increasingly important. The Ellipal wallet is a gadget which keeps the private keys to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The company’s website and online reviews claim they are completely safe, however it is important to keep in mind that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR on a compromised device that has been infected with viruses, your private keys will remain safe and secure.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes through an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers getting an access point to your private keys via an internet connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it’s not tested in battle yet. This is something that potential buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for a longer time and have a an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add more support for coins in the future.
In the end it is clear that the Ellipal wallet has been a brand new competitor in the market of hardware wallets and promises to be 100% safe due to its total inaccessibility to any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and its price at $149 is comparable with the other options. While the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other wallets before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as user-friendly to use as other wallets. Additionally, it’s an all-new product available on the market.