The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware in recent years. Each promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure the storage and protection of assets becomes more essential. It is the Ellipal wallet is a tool which keeps the private keys to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of competing firms such as TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if you connect your TREZOR on a compromised system which is infected by viruses, your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes through an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of a hacker getting gain access to private information by a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it has not been combat-tested to date. This is something prospective buyers must be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are 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. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to add the support of more coins in the near future.
In the end it is clear that the Ellipal device is an brand new player in the market for hardware wallets, promising to be completely safe due to its total inaccessibility to 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 currently supports a limited number of coins, and its price tag of $149 is on par with other wallets. Although the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the track record and security features of other hardware wallets prior to making a decision. The final decision about whether the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other wallets, and it’s an extremely new product available on the market.