The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets in recent years, each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe the storage and protection of assets becomes increasingly important. It is the Ellipal wallet is a device that stores the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of competing firms like TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if the TREZOR is connected TREZOR on a compromised computer which is infected by viruses your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker getting gain access to private information through an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it’s not tested in battle yet. This is something that potential buyers must be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been in business for a longer time and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is working to provide 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 market for hardware wallets that claims to be 100% secure due to its complete isolation from any network or computer. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with other wallets. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the history and security features of other hardware wallets before making a decision. The final decision about whether or not the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as easy in use as the other hardware wallets, and it’s an extremely new product that’s available.