The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available in recent years, each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe the storage and protection of assets becomes more crucial. The Ellipal wallet is a tool which keeps the private keys to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews claim they are 100% secure, however, it’s important to remember that hardware wallets from rival firms such as TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR with a compromised system that is infected with viruses Your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes using an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of a hacker getting gain access to private information via a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it isn’t tested in battle yet. This is something that potential buyers must keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have a established track records of security.
In terms of coin support, the Ellipal wallet 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. However, the company is working to provide the support of more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a fresh player on the hardware wallet market, promising to be completely safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is on par with its competitors. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient to use as other hardware wallets. Additionally, it’s a relatively new product available on the market.