The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, each promises 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 its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for safe the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. It raised $55K through an Indiegogo campaign to fund its development. The company’s website as well as online reviews claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of rival firms such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. For example, even if the TREZOR is connected TREZOR to a compromised computer that is infected with viruses, your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes using an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of hackers having an access point to your private keys via the network. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it’s not tested in battle yet. This is something potential buyers need to be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business 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 is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is currently working on adding support for more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh competitor in the market of hardware wallets and promises to be completely secure due to its complete isolation from any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with the other options. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice with an innovative design, but it’s not as convenient in use as the other wallets. It’s also an extremely new product on the market.