The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available on the market in recent years. Each promising that digital assets will be safe and secure. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes increasingly crucial. It is the Ellipal wallet is a gadget which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website and reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device which is infected by viruses your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its rear of the. This makes it an extremely secure choice as it removes the possibility of hackers getting an access point to your private keys via an internet connection. It’s important to note that this means the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it’s not tested in battle yet. This is something prospective buyers should take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for longer and have proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is working to add support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet is a brand new competitor in the market of hardware wallets, promising to be completely secure because of its complete isolation from any computer or network. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is in line with the other options. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallets before making a decision. The final decision about whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s a relatively new product on the market.