The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware in recent years. Each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe security for digital asset storage becomes more important. The Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews state the hardware wallet as completely secure, however, it’s important to remember that hardware wallets from rival businesses like TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. For example, even if it is possible to connect your TREZOR with a compromised system which is infected by viruses, your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the rear end. This makes it a very safe option since it blocks the possibility of hackers gaining access to the private key through an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it isn’t battle-tested yet. This is something that potential buyers need to keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have established track records of security.
In terms of coin support, 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, and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. But, the company is currently working on adding support for more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal device is an new player on the market for hardware wallets and promises to be completely secure due to its complete isolation from any computer or network. Its creators are new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is on par with the other options. Although the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security features of other hardware wallet options before making a decision. The final decision about whether the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. It’s also an extremely new product on the market.