The cryptocurrency market has witnessed a significant rise in the number of hardware wallets in recent years, each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for secure the storage and protection of assets becomes more essential. The Ellipal wallet can be described as a device that stores the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The company’s website as well as reviews online claim they are completely secure, however, it’s important to note that the hardware wallets of competing firms such as TREZOR as well as Ledger are made 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 to a compromised computer which is infected by viruses your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the back of the. This makes it a very secure choice as it removes the possibility of hackers getting access to the private key through a network connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it isn’t tested in battle yet. This is something prospective buyers should be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been in business 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 that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is working to add more support for coins in the future.
In the end it is clear that the Ellipal wallet has been a fresh player on the market of hardware wallets and promises to be 100% secure due to its complete separation from any network or computer. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins and its price of $149 is on par with its competitors. While 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. In the end, the decision on whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other wallets, and it’s an extremely new product available on the market.