The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available on the market in recent years. Each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for safe the storage and protection of assets is becoming increasingly important. It is the Ellipal wallet is a tool that keeps the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state they are 100% secure, however, it’s important to keep in mind that hardware wallets of rival firms such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR to a compromised system which is infected by viruses your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes using an image camera at the rear of the. This makes it a highly safe option since it blocks the possibility of a hacker getting an access point to your private keys through an internet connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it’s not combat-tested to date. This is something that potential buyers must take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were in business for longer and have proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to add the support of more coins in the near future.
In conclusion In conclusion, the Ellipal wallet is a fresh competitor in the market for hardware wallets, promising that it is 100% safe due to its total separation from any network or computer. Its creators are relatively new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is on par with other wallets. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy to use as other wallets, and it’s an all-new product that’s available.