The world of cryptocurrency has seen a significant increase in the number of wallets that are hardware in recent years. Each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for secure security for digital asset storage becomes more crucial. It is the Ellipal wallet is a device that stores the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of competing firms like TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if the TREZOR is connected TREZOR with a compromised computer that is infected with viruses your private keys remain safe and secure.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes via cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having gain access to private information through the network. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other hardware wallets 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 potential buyers must take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have proven track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is working to add the support of more coins in the future.
In the end it is clear that it is clear that the Ellipal wallet has been a new competitor in the market for hardware wallets that claims to be 100% safe due to its total inaccessibility to any network or computer. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is on par with other wallets. Although the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the security and track record features of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, but it’s not as convenient for use like other wallets. It’s also an all-new product on the market.