The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware in recent years, each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal wallet is a device that stores the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new player in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews claim that their hardware wallet is 100% safe, however it is important to note that the hardware wallets of competing businesses like TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if the TREZOR is connected TREZOR to a compromised system which is infected by viruses your private keys will 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 wired or wireless connectivity. Instead, it transmits QR codes via a camera on the rear end. This makes it a highly safe option since it blocks the possibility of hackers having access to the private key via an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it isn’t tested in battle yet. This is something potential buyers need to keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is working to provide support for more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh competitor in the market of hardware wallets and promises that it is 100% secure because of its complete separation from any computer or network. Its creators are 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 the price of $149 is on par with its competitors. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other wallets before making a decision. In the end, the decision on whether or not the Ellipal device is well worth 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 for use like other wallets. Additionally, it’s an all-new product available on the market.