The world of cryptocurrency has seen a significant increase in the amount of hardware wallets in recent years, each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure the storage and protection of assets is becoming increasingly essential. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely 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 company on the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The company’s website as well as reviews online claim they are 100% secure, but it’s important to keep in mind that hardware wallets of competing firms like TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised device which is infected by viruses Your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its rear of the. This makes it a very secure option as it eliminates the possibility of hackers having gain access to private information by an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it has not been tested in battle yet. This is something prospective buyers should take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) were on the market for a longer time and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is working to add the support of more coins in the near future.
In the end it is clear that the Ellipal wallet is a new competitor in the hardware wallet market, promising to be 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price at $149 is comparable with the other options. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the track record and security measures of other wallets before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as easy for use like other hardware wallets, and it’s an extremely new product that’s available.