The world of cryptocurrency has seen an significant increase in the number of hardware wallets available in recent years, all promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for safe the storage and protection of assets is becoming increasingly important. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets off-line and prevents hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews claim that their hardware wallet is completely secure, but it’s important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised device that has been infected with viruses, your private keys will remain safe and secure.
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 using an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key via the network. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it’s not tested in battle yet. This is something prospective buyers must be aware of when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for longer and have a an established track record of security.
In terms of coin support, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide more support for coins in the future.
In conclusion, the Ellipal device is an brand new player in the hardware wallet market that claims to be completely secure due to its complete inaccessibility to any network or computer. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is in line with the other options. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallets before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly to use as other wallets. It’s also an extremely new product that’s available.