The world of cryptocurrency has seen an significant increase in the amount of hardware wallets in recent years. Each promising to keep digital assets secure and safe. The Ellipal wallet is a brand new entry into the market and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe the storage and protection of assets becomes increasingly crucial. It is the Ellipal wallet is a tool which keeps the private keys to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of rival companies such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR to a compromised system that is infected with viruses, your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its rear of the. This makes it a highly secure choice as it removes the possibility of a hacker gaining access to the private key by a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it has not been tested in battle yet. This is something potential buyers should take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have a an established track record of security.
In terms of coin support 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 could be a problem for some users. But, the company is working to provide support for more coins in the future.
In the end, the Ellipal device is an fresh player on the market of hardware wallets that claims to be 100% safe due to its total isolation from any computer or network. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is on par with other wallets. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other wallets prior to making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as easy in use as the other wallets. It’s also an extremely new product on the market.