The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware on the market in recent years, each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal wallet is a tool which keeps the private keys to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website and online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. In the event that, for instance, the TREZOR is connected TREZOR on a compromised system which is infected by viruses your private keys are still safe and secure.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes via an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of a hacker having access to the private key through a network 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 for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it’s not battle-tested yet. This is something potential buyers must keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for longer and have a established track records of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is currently working on adding support for more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal device is an brand new player on the hardware wallet market, promising to be 100% secure due to its complete inaccessibility to any computer or network. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with its competitors. Although the concept of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other hardware wallets. It’s also a relatively new product on the market.