The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets in recent years, each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe security for digital asset storage becomes increasingly essential. It is the Ellipal wallet is a gadget which keeps the private keys to digital assets offline, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website and reviews online claim that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets of rival firms like TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised device which is infected by viruses Your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, meaning that it has not been combat-tested to date. This is something that potential buyers need to take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are on the market for longer and have 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 is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add more support for coins in the future.
In the end it is clear that the Ellipal wallet has been a brand new player on the hardware wallet market and promises to be 100% safe due to its total inaccessibility to any computer or network. Its creators are new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is in line with other wallets. While the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other wallet options before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option with a unique design but it’s not as convenient to use as other hardware wallets, and it’s an extremely new product available on the market.