The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware in recent years. Each promises to keep digital assets safe and secure. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe the storage and protection of assets becomes more essential. Ellipal wallet Ellipal wallet is a gadget that stores the private key to digital assets offline, preventing hackers from stealing them remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR to a compromised computer which is infected by viruses, your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes via an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key via an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it has not been combat-tested to date. This is something prospective buyers must keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are in business 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 supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, and 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 users. But, the company is currently working on adding support for more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal device is an new player in the hardware wallet market, promising to be completely secure because of its complete separation from any network or computer. 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 its price of $149 is on par with its competitors. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the individual. It’s a safe option with a unique design however, it’s not as easy in use as the other hardware wallets, and it’s an all-new product on the market.