The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets available in recent years, each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for safe storage of digital assets is becoming increasingly important. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state the hardware wallet as completely secure, however, it’s important to note that the hardware wallets from rival companies like TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised system that is infected with viruses your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes through an image camera at the rear of the. This makes it a very secure choice as it removes the possibility of hackers gaining access to the private key via the network. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it has not been tested in battle yet. This is something that potential buyers need to take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been in business for longer and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding support for more coins in the future.
In the end it is clear that it is clear that the Ellipal wallet has been a new competitor in the market of hardware wallets that claims that it is 100% safe due to its total inaccessibility to any computer or network. Its creators are relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is on par with other wallets. Although the concept of a totally isolated hardware wallet is intriguing, it’s important to consider the security and track record features of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s a relatively new product on the market.