The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available in recent years, each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure security for digital asset storage becomes increasingly crucial. Ellipal wallet Ellipal wallet can be described as a gadget that stores 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 young player in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state the hardware wallet as completely secure, however, it’s important to note that the hardware wallets from rival businesses like TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR with a compromised computer which is infected by viruses, your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it transmits QR codes using an image camera at the rear of the. This makes it a highly safe option since it blocks the possibility of hackers getting gain access to private information through a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it’s not battle-tested yet. This is something prospective buyers should take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are in business for longer and have a an established track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding the support of more coins in the future.
In conclusion In conclusion, the Ellipal device is an brand new player on the market for hardware wallets and promises that it is 100% safe due to its total inaccessibility to any computer or network. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with the other options. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallet options before making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy for use like other hardware wallets. It’s also an extremely new product available on the market.