The world of cryptocurrency has seen a significant rise in the number of hardware wallets in recent years. Each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe security for digital asset storage becomes increasingly important. Ellipal wallet Ellipal digital wallet device that keeps the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state they are 100% safe, however it is important to keep in mind that hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no one outside can view your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised computer which is infected by viruses, your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the rear of the. This makes it a very secure choice as it removes the possibility of hackers having access to the private key by an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it has not been tested in battle yet. This is something potential buyers should take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have proven track record of security.
In terms of support for coin, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is working to add more support for coins in the future.
In conclusion it is clear that the Ellipal device is an new competitor in the hardware wallet market that claims to be 100% secure because of its complete isolation from any network or computer. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price at $149 is comparable with the other options. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly in use as the other wallets, and it’s an extremely new product available on the market.