The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware in recent years. Each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for safe storage of digital assets becomes more essential. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The website of the company and its reviews online claim they are 100% secure, but it’s important to remember that hardware wallets of competing firms such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses, your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes using a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of hackers getting access to the private key through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it isn’t battle-tested yet. This is something prospective buyers must be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have proven track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is currently working on adding the support of more coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a brand new competitor in the market for hardware wallets, promising to be 100% safe due to its total separation from any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and its price of $149 is in line with other wallets. Although the concept of a totally separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other hardware wallets, and it’s an extremely new product that’s available.