The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware in recent years, all promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure the storage and protection of assets is becoming increasingly crucial. Ellipal wallet Ellipal digital wallet gadget that stores the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state they are completely secure, but it’s important to keep in mind that hardware wallets from rival firms such as TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For instance, even if the TREZOR is connected TREZOR with a compromised device which is infected by viruses Your private keys will remain protected and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of hackers gaining an access point to your private keys by the network. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it’s not combat-tested to date. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have a proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is currently working on adding support for more coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a fresh player on the hardware wallet market and promises to be completely safe due to its total inaccessibility to any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product that’s available.