The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware in recent years, each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe the storage and protection of assets is becoming increasingly important. It is the Ellipal wallet can be described as a tool that stores the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website and reviews online claim the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised system that has been infected with viruses, your private keys are still protected and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes via cameras on its back of the. This makes it an extremely secure option as it eliminates the possibility of hackers getting access to the private key through the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it isn’t battle-tested yet. This is something prospective buyers need to take into consideration when purchasing this 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 established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide the support of more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a new competitor in the market of hardware wallets and promises to be 100% safe due to its total inaccessibility to any computer or network. Its creators are new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with other wallets. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallets prior to making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice with a unique design but it’s not as convenient in use as the other hardware wallets. Additionally, it’s an all-new product available on the market.