The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware in recent years, each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes increasingly essential. It is the Ellipal wallet is a device that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of rival firms like TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised system that is infected with viruses Your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through a camera on the back of the. This makes it a very secure option as it eliminates the possibility of hackers gaining access to the private key via an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it’s not tested in battle yet. This is something potential buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to provide the support of more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the market of hardware wallets, promising to be 100% 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 yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is on par with its competitors. While the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly to use as other hardware wallets, and it’s an all-new product on the market.