The world of cryptocurrency has seen a significant increase in the amount of hardware wallets in recent years. Each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes more important. The Ellipal wallet is a gadget which keeps the private keys to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The website of the company and its reviews online claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For instance, even if the TREZOR is connected TREZOR with a compromised system that is infected with viruses your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes via a camera on the back of the. This makes it an extremely safe option since it blocks the possibility of hackers gaining an access point to your private keys through an internet connection. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it isn’t tested in battle yet. This is something that potential buyers should take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were around for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as 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 may be a concern for some buyers. However, the company is working to provide more support for coins in the future.
In conclusion, the Ellipal wallet is a fresh player on the market for hardware wallets and promises that it is 100% safe due to its total isolation from any network or computer. The company behind it is relatively new, and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with other wallets. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallet options before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option that has a modern design but it’s not as convenient in use as the other hardware wallets. Additionally, it’s a relatively new product that’s available.