The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware on the market in recent years, each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for secure the storage and protection of assets is becoming increasingly important. The Ellipal wallet is a tool that stores the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The company’s website and reviews online claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of rival firms such as 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 on a compromised system which is infected by viruses, your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes via an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of hackers having an access point to your private keys by a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it has not been battle-tested yet. This is something potential buyers must keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are in business for longer and have an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with 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. However, the company is working to provide the support of more coins in the near future.
In conclusion, it is clear that the Ellipal wallet is a brand new player in the market of hardware wallets, promising to be completely safe due to its total isolation from any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with the other options. Although the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option that has a modern design however, it’s not as user-friendly for use like other hardware wallets. It’s also an all-new product on the market.