The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available 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 is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for safe security for digital asset storage becomes increasingly essential. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its reviews online claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of competing companies like TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised device that is infected with viruses your private keys are still protected and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of a hacker getting an access point to your private keys by the network. However, it’s important to remember that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer for simple 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 must keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have a established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding more support for coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a fresh player in the market for hardware wallets, promising that it is 100% secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with other wallets. While the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the security and track record features of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy to use as other hardware wallets. It’s also a relatively new product that’s available.