The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware on the market in recent years, each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure the storage and protection of assets becomes increasingly essential. The Ellipal digital wallet gadget that keeps the private key to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of competing businesses like TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised system which is infected by viruses, your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through a camera on the rear end. This makes it a very safe option since it blocks the possibility of hackers getting an access point to your private keys through the network. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly 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 isn’t tested in battle yet. This is something prospective buyers need to keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have 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 which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is working to add more support for coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an fresh player in the market of hardware wallets, promising that it is 100% secure because of its complete separation from any computer or network. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with other wallets. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s an extremely new product on the market.