The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets 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 entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for safe storage of digital assets becomes more important. It is the Ellipal wallet is a tool that stores the private key to digital assets offline to prevent hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets from rival companies such as TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For instance, even if the TREZOR is connected TREZOR to a compromised system that has been infected with viruses your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes via a camera on the back of the. This makes it a very secure option as it eliminates the possibility of hackers getting an access point to your private keys by the network. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it’s not combat-tested to date. This is something potential buyers should keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add the support of more coins in the future.
In the end In conclusion, the Ellipal device is an fresh competitor in the hardware wallet market that claims to be completely secure because of its complete isolation from any computer or network. Ellipal is a company that’s new and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with its competitors. Although the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other wallets prior to making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy in use as the other wallets. Additionally, it’s an extremely new product that’s available.