The cryptocurrency market has seen a significant rise in the number of hardware wallets available on the market in recent years, each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for safe the storage and protection of assets becomes increasingly important. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews claim they are completely safe, however it is important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. In the event that, for instance, it is possible to connect your TREZOR with a compromised computer which is infected by viruses, your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes using a camera on the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker having an access point to your private keys via an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it has not been combat-tested to date. This is something prospective buyers should be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are around for longer and have an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is currently working on adding support for more coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a new player on the hardware wallet market and promises that it is 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and its price at $149 is comparable with the other options. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the track record and security measures of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly to use as other hardware wallets, and it’s a relatively new product that’s available.