The world of cryptocurrency has seen a significant increase in the number of hardware wallets on the market in recent years, all promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe storage of digital assets is becoming increasingly important. It is the Ellipal wallet is a tool that stores the private key to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state they are 100% safe, however it is important to keep in mind that hardware wallets of rival companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For example, even if it is possible to connect your TREZOR with a compromised computer which is infected by viruses, your private keys will remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes through cameras on its rear of the. This makes it a very secure choice as it removes the possibility of a hacker having access to the private key via the network. It’s important to note that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it’s not tested in battle yet. This is something prospective buyers should keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for longer and have a established track records of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to add the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a fresh player on the market of hardware wallets, promising to be 100% secure due to its complete isolation from any network or computer. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price of $149 is in line with the other options. Although the concept of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other hardware wallets. It’s also an all-new product that’s available.