The world of cryptocurrency has seen an significant increase in the amount of hardware wallets in recent years, each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure storage of digital assets is becoming increasingly crucial. The Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets from rival companies such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised computer that has been infected with viruses, your private keys are still protected and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes through a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker getting gain access to private information through the network. However, it’s worth noting that this means 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 costs $149 and is fairly recent to market which implies that it isn’t combat-tested to date. This is something that potential buyers need to keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are around for longer and have a an established track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, and 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 users. However, the company is working to add more support for coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a fresh player in the hardware wallet market that claims that it is 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s 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 of $149 is in line with other wallets. Although the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other hardware wallets before making a decision. The final decision about whether or not the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as easy in use as the other wallets. It’s also a relatively new product available on the market.