The world of cryptocurrency has seen a significant rise in the number of hardware wallets available on the market in recent years, all promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets is becoming increasingly essential. The Ellipal digital wallet tool which keeps the private keys to digital assets offline to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new player in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim that their hardware wallet is completely secure, but it’s important to remember that hardware wallets of competing businesses like TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised device that has been infected with viruses Your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker getting an access point to your private keys through the network. It’s important to note that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it isn’t tested in battle yet. This is something prospective buyers must keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as 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. The company is currently working on adding support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a brand new competitor in the market for hardware wallets, promising that it is 100% secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is on par with the other options. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallets prior to making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy for use like other wallets. Additionally, it’s an extremely new product on the market.