The cryptocurrency market has seen an significant rise in the number of hardware wallets in recent years. Each promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for safe the storage and protection of assets becomes increasingly important. The Ellipal wallet is a tool that keeps the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim that their hardware wallet is completely safe, however it is important to note that the hardware wallets of rival firms such as TREZOR and Ledger are also designed in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer that has been infected with viruses your private keys are still protected and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes through an image camera at the rear end. This makes it a very safe option since it blocks the possibility of a hacker gaining access to the private key by an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it’s not tested in battle yet. This is something potential buyers need to take into consideration when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to add the support of more coins in the near future.
In the end, the Ellipal device is an fresh competitor in the hardware wallet market that claims that it is 100% secure because of its complete separation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is on par with other wallets. Although the concept of a fully separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. It’s also an all-new product that’s available.