The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware in recent years, each promising that digital assets will be secure and safe. The Ellipal wallet is a brand new competitor in the field, and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for safe security for digital asset storage becomes more crucial. It is the Ellipal wallet is a tool which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews state they are completely secure, however, it’s important to keep in mind that hardware wallets of competing firms such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if the TREZOR is connected TREZOR to a compromised computer that has been infected with viruses, your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of hackers gaining access to the private key via an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it has not been combat-tested to date. This is something potential buyers need to be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for a longer time and have a an established track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add the support of more coins in the near future.
In the end it is clear that the Ellipal wallet has been a new player on the hardware wallet market and promises that it is 100% secure due to its complete inaccessibility to any computer or network. The company behind it is relatively new, and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with the other options. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallets before making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other wallets, and it’s an all-new product on the market.