The world of cryptocurrency has seen a significant increase in the number of hardware wallets in recent years. Each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for safe the storage and protection of assets is becoming increasingly important. The Ellipal wallet can be described as a tool that keeps the private key to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The website of the company and its reviews online claim that their hardware wallet is 100% safe, however it is important to remember that hardware wallets from rival companies such as TREZOR and Ledger are made in a way that no one outside can view your private key. In the event that, for instance, you connect your TREZOR to a compromised system that is infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes through an image camera at the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker getting an access point to your private keys by a network connection. It’s important to note that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it’s not tested in battle yet. This is something potential buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have established track records of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. The company is working to provide more support for coins in the near future.
In the end it is clear that the Ellipal wallet has been a new player in the market for hardware wallets that claims that it is 100% safe due to its total isolation from any computer or network. Its creators are relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with its competitors. Although the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the track record and security features of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy to use as other wallets, and it’s an extremely new product on the market.