The world of cryptocurrency has seen a significant increase in the number of hardware wallets available in recent years. Each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure security for digital asset storage is becoming increasingly crucial. It is the Ellipal wallet is a tool which keeps the private keys to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website and reviews online claim they are completely secure, however, it’s important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are made in a way that no one outside can see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device that has been infected with viruses your private keys will remain safe and secure.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes using a camera on the rear of the. This makes it a very safe option since it blocks the possibility of hackers gaining an access point to your private keys by the network. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it’s not tested in battle yet. This is something that potential buyers must keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are on the market for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to provide more support for coins in the future.
In the end it is clear that it is clear that the Ellipal device is an new competitor in the hardware wallet market and promises to be completely secure because of its complete separation from any network or computer. The company behind it is new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with its competitors. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s a safe option with a unique design however, it’s not as user-friendly for use like other hardware wallets, and it’s an extremely new product on the market.