The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware in recent years. Each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes more essential. It is the Ellipal digital wallet gadget that stores the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
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 finance the development of their product. The company’s website as well as online reviews state that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For instance, even if you connect your TREZOR to a compromised system that is infected with viruses, your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes through a camera on the back of the. This makes it a very secure choice as it removes the possibility of a hacker getting gain access to private information through an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected 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 prospective buyers must take into consideration when buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are on the market for a longer time and have a proven track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is working to add more support for coins in the near future.
In the end it is clear that the Ellipal wallet is a new competitor in the market of hardware wallets, promising to be 100% secure due to its complete separation from any computer or network. Its creators are new and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with the other options. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other wallets, and it’s an extremely new product available on the market.