The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, all promising that digital assets will be safe and secure. The Ellipal wallet is a new entry into the market and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage becomes more crucial. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to help fund research and development for their products. The company’s website as well as reviews online claim they are completely secure, but it’s important to keep in mind that hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR to a compromised system that has been infected with viruses Your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker having access to the private key via the network. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it has not been battle-tested yet. This is something potential buyers should take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are in business for a longer time and have a established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is working to add support for more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the hardware wallet market that claims to be completely secure because of its complete isolation from any network or computer. Its creators are relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and its price at $149 is comparable with its competitors. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the track record and security measures of other wallets prior to making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an all-new product on the market.