The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware in recent years. Each promising 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 its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a tool which keeps the private keys to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews state the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised device that has been infected with viruses your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it a very safe option since it blocks the possibility of hackers gaining gain access to private information through a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it’s not tested in battle yet. This is something that potential buyers need to keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have proven track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is working to add the support of more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the hardware wallet market and promises to be 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is in line with other wallets. While 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 product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as easy to use as other hardware wallets, and it’s a relatively new product on the market.