The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware in recent years, all promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for safe security for digital asset storage becomes increasingly crucial. The Ellipal digital wallet device that stores the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim they are 100% safe, however it is important to note that the hardware wallets from rival companies like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if you connect your TREZOR to a compromised device that has been infected with viruses your private keys remain secure and safe.
The Ellipal wallet is distinctive 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 through QR codes via an image camera at the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker having access to the private key via the network. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it has not been tested in battle yet. This is something potential buyers should be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for longer and have established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide the support of more coins in the near future.
In the end it is clear that the Ellipal wallet has been a brand new player in the hardware wallet market and promises to be completely secure because of its complete inaccessibility to any network or computer. Its creators are new, and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with the other options. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option with a unique design however, it’s not as user-friendly for use like other wallets. It’s also an all-new product that’s available.