The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware in recent years, all promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for safe the storage and protection of assets is becoming increasingly essential. The Ellipal wallet can be described as a gadget that stores the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state they are 100% secure, however, it’s important to keep in mind that hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR on a compromised device that is infected with viruses your private keys remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of hackers having access to the private key via an internet connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it’s not tested in battle yet. This is something that potential buyers must keep in mind when considering purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are on the market for a longer time and have a an established track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is currently working on adding more support for coins in the future.
In conclusion, the Ellipal wallet has been a fresh player on the market for hardware wallets that claims to be 100% safe due to its total inaccessibility to any network or computer. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is in line with its competitors. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the track record and security measures of other wallet options before making a decision. The final decision about whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as user-friendly to use as other hardware wallets, and it’s an extremely new product that’s available.