The world of cryptocurrency has seen an significant increase in the number of hardware wallets available in recent years, each claims that digital assets will be safe and secure. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe the storage and protection of assets is becoming increasingly essential. Ellipal wallet Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website and reviews online claim they are 100% safe, however it is important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR with a compromised system that has been infected with viruses, your private keys remain secure and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes via an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of a hacker getting access to the private key by a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it isn’t combat-tested to date. This is something that potential buyers need to keep in mind when considering purchasing the Ellipal wallet. In comparison, both 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.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to provide support for more coins in the near future.
In conclusion, it is clear that the Ellipal device is an new player in the market for hardware wallets, promising to be completely secure due to its complete separation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price of $149 is in line with other wallets. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as easy to use as other wallets. It’s also an extremely new product on the market.