The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware in recent years, each promises 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 an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure storage of digital assets becomes increasingly crucial. It is the Ellipal wallet is a tool that keeps the private key to digital assets indefinitely, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews state they are completely secure, however, it’s important to note that the hardware wallets from rival firms like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised system which is infected by viruses, your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes through an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of hackers gaining an access point to your private keys by the network. It’s important to note that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it has not been combat-tested to date. This is something prospective buyers should keep in mind when considering buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for longer 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 only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add support for more coins in the future.
In conclusion, it is clear that the Ellipal wallet is a brand new competitor in the hardware wallet market and promises to be completely secure due to its complete inaccessibility to any network or computer. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price of $149 is in line with the other options. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the history and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other hardware wallets, and it’s a relatively new product on the market.