The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware in recent years. Each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe storage of digital assets becomes increasingly essential. It is the Ellipal wallet is a tool that keeps the private key to digital assets indefinitely, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews claim that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of competing firms such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if you connect your TREZOR with a compromised device which is infected by viruses Your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes using a camera on the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining access to the private key through an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it’s not tested in battle yet. This is something potential buyers need to take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are in business for longer and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding the support of more coins in the future.
In the end it is clear that it is clear that the Ellipal wallet is a brand new player on the hardware wallet market and promises 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 has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is in line with other wallets. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the history and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is up to the individual. It’s a safe option with an innovative design, but it’s not as convenient in use as the other hardware wallets, and it’s a relatively new product on the market.