The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available in recent years. Each claims to keep digital assets secure and safe. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread, the need for safe storage of digital assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The website of the company and its reviews online claim the hardware wallet as completely safe, however it is important to note that the hardware wallets of rival companies like TREZOR as well as Ledger are made in a way that no one outside can access your private keys. For instance, even if you connect your TREZOR to a compromised system which is infected by viruses your private keys are still safe and secure.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes via an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of hackers having gain access to private information through an internet connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it isn’t battle-tested yet. This is something potential buyers need to be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is working to provide more support for coins in the near future.
In the end, the Ellipal wallet is a fresh player in the market for hardware wallets and promises to be completely secure due to its complete separation from any computer or network. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is in line with its competitors. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the track record and security measures of other wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, but it’s not as convenient in use as the other wallets. Additionally, it’s an all-new product available on the market.