The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets on the market in recent years, all claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe the storage and protection of assets becomes increasingly important. The Ellipal wallet can be described as a tool that keeps the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The company’s website and reviews online claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer which is infected by viruses, your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes through cameras on its back of the. This makes it a very secure choice as it removes the possibility of hackers gaining access to the private key via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it’s not tested in battle yet. This is something prospective buyers should take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are around for longer and have a proven track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add the support of more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a new player on the hardware wallet market, promising that it is 100% secure due to its complete inaccessibility to any network or computer. Its creators are relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins and the price at $149 is comparable with its competitors. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as user-friendly to use as other wallets, and it’s an extremely new product that’s available.