The cryptocurrency market has seen an significant increase in the number of hardware wallets available on the market in recent years, all promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes more important. The Ellipal wallet can be described as a tool that keeps the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website and reviews online claim they are 100% secure, however, it’s important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised system that has been infected with viruses, your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of hackers gaining access to the private key by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it isn’t tested in battle yet. This is something prospective buyers need to keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are in business for longer and have a an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding support for more coins in the future.
In the end it is clear that it is clear that the Ellipal wallet has been a new player in the market of hardware wallets, promising to be 100% secure due to its complete isolation from any network or computer. Its creators are new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is in line with other wallets. While the idea of a totally separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallets prior to making a choice. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as easy for use like other hardware wallets. Additionally, it’s a relatively new product that’s available.