The world of cryptocurrency has seen an significant rise in the number of hardware wallets in recent years, each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure storage of digital assets becomes more essential. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state they are completely safe, however it is important to remember that hardware wallets of competing companies like TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR to a compromised device which is infected by viruses your private keys will remain secure and safe.
Its 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 via a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of hackers having an access point to your private keys through a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for easy 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 need to keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to add support for more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a fresh player on the market of hardware wallets and promises that it is 100% safe due to its total isolation from any computer or network. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is in line with other wallets. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other wallets prior to making a choice. The final decision about whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s a relatively new product available on the market.