The world of cryptocurrency has witnessed a significant increase in the amount of wallets that are hardware in recent years, each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe security for digital asset storage becomes more important. The Ellipal wallet is a gadget which keeps the private keys to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews claim the hardware wallet as 100% secure, but it’s important to remember that hardware wallets of competing companies such as TREZOR as well as Ledger are made in a way that no one outside can view your private key. For example, even if the TREZOR is connected TREZOR with a compromised computer 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 unconnected to any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes using an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of hackers getting access to the private key by the network. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it has not been combat-tested to date. This is something that potential buyers should be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are around for longer and have established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is currently working on adding more support for coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the hardware wallet market, promising to be 100% safe due to its total separation from any computer or network. The company behind it is relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with other wallets. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallets prior to making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with a unique design but it’s not as convenient for use like other hardware wallets, and it’s a relatively new product that’s available.