The cryptocurrency market has seen a significant rise in the number of wallets that are hardware on the market in recent years, each claims 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 the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for secure storage of digital assets becomes increasingly important. Ellipal wallet Ellipal digital wallet tool that keeps the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal, the company behind 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 the development of their product. The company’s website as well as online reviews claim the hardware wallet as completely safe, however it is important to remember that hardware wallets from rival companies like TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. In the event that, for instance, the TREZOR is connected TREZOR on a compromised device which is infected by viruses, your private keys are still 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 connectivity. Instead, it communicates through QR codes through an image camera at the back of the. This makes it a very secure choice as it removes the possibility of a hacker gaining access to the private key via an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it’s not combat-tested to date. This is something prospective buyers should be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for a longer time and have a proven track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. But, the company is working to provide the support of more coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a fresh player in the market for hardware wallets that claims that it is 100% secure because of its complete 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 tag of $149 is on par with its competitors. Although the idea of a totally separated hardware wallet sounds appealing however, you should consider the track record and security measures of other wallet options before making a choice. The final decision about whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as user-friendly to use as other hardware wallets, and it’s an all-new product on the market.