The world of cryptocurrency has seen an significant increase in the amount of hardware wallets available in recent years, all promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a 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 is becoming increasingly essential. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if you connect your TREZOR to a compromised computer that is infected with viruses your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes using an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of a hacker gaining an access point to your private keys via a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it’s not tested in battle yet. This is something that potential buyers need to be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to provide the support of more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the market of hardware wallets that claims that it is 100% secure due to its complete separation from any network or computer. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price at $149 is comparable with its competitors. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record measures of other wallets prior to making a decision. In the end, the decision on whether the Ellipal wallet is worth the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as user-friendly to use as other hardware wallets, and it’s a relatively new product on the market.