The cryptocurrency market has seen an significant increase in the number of wallets that are hardware in recent years. Each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe storage of digital assets is becoming increasingly essential. Ellipal wallet Ellipal wallet can be described as a gadget which keeps the private keys to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The company’s website and reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets from rival firms such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. For example, even if it is possible to connect your TREZOR on a compromised system that is infected with viruses, your private keys will remain protected and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker getting access to the private key via the network. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it’s not combat-tested to date. This is something prospective buyers should be aware of when purchasing Ellipal. 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 established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is currently working on adding the support of more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh player on the hardware wallet market that claims to be completely safe due to its total isolation from any computer or network. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is on par with its competitors. Although the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice with an innovative design, but it’s not as convenient for use like other hardware wallets. It’s also a relatively new product on the market.