The world of cryptocurrency has seen a significant rise in the number of hardware wallets available on the market in recent years, all promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe the storage and protection of assets becomes more crucial. It is the Ellipal wallet is a gadget that keeps the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim they are completely secure, however, it’s important to keep in mind that hardware wallets of rival firms such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. For example, even if the TREZOR is connected TREZOR on a compromised system which is infected by viruses your private keys 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 that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes via an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker gaining an access point to your private keys through an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it has not been combat-tested to date. This is something prospective buyers need to be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for a longer time and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is currently working on adding more support for coins in the near future.
In the end it is clear that the Ellipal wallet has been a fresh player in the hardware wallet market and promises to be completely secure because of its complete inaccessibility to any computer or network. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with the other options. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the track record and security measures of other wallets prior to making a decision. The final decision about whether or not the Ellipal wallet is worth the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy to use as other wallets, and it’s an all-new product available on the market.