The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware in recent years, all promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for safe storage of digital assets is becoming increasingly essential. Ellipal wallet Ellipal digital wallet tool that keeps the private key to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews state that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets of competing businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For example, even if you connect your TREZOR with a compromised system which is infected by viruses your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes via an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of hackers gaining access to the private key by an internet connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it isn’t combat-tested to date. This is something potential buyers must take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is working to provide the support of more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal device is an new competitor in the market of hardware wallets and promises to be completely secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is on par with the other options. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallet options before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s a relatively new product that’s available.