The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets on the market in recent years, all promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure storage of digital assets becomes increasingly important. Ellipal wallet Ellipal wallet is a gadget that keeps the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews state that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of competing firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer that is infected with viruses your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes using a camera on the rear end. This makes it a highly safe option since it blocks the possibility of a hacker having gain access to private information via an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it’s not combat-tested to date. This is something potential buyers need to keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have a established track records of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide the support of more coins in the near future.
In conclusion, it is clear that the Ellipal wallet is a brand new competitor in the market of hardware wallets and promises to be completely safe due to its total isolation from any network or computer. Its creators are new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag at $149 is comparable with other wallets. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallets prior to making a choice. In the end, the decision on whether the Ellipal device is well worth the price is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an extremely new product on the market.