The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware in recent years, each promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread, the need for secure security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a device which keeps the private keys to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The company’s website as well as reviews online claim that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of competing firms like TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For instance, even if you connect your TREZOR on a compromised computer that is infected with viruses your private keys remain secure 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 connectivity. Instead, it communicates via QR codes via an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of hackers having access to the private key through a network connection. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it’s not battle-tested yet. This is something that potential buyers should keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add more support for coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a new player on the market for hardware wallets and promises that it is 100% secure because of its complete inaccessibility to any computer or network. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is in line with other wallets. Although the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly in use as the other wallets. Additionally, it’s a relatively new product on the market.