The world of cryptocurrency has seen a significant increase in the number of hardware wallets available in recent years, all promising that digital assets will be safe and secure. The Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for secure storage of digital assets is becoming increasingly essential. Ellipal wallet Ellipal digital wallet tool that keeps the private key to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews claim they are completely secure, however, it’s important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For example, even if it is possible to connect your TREZOR on a compromised system that has been infected with viruses your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes via a camera on the rear end. This makes it a very secure choice as it removes the possibility of a hacker gaining an access point to your private keys by a network connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it has not been tested in battle yet. This is something prospective buyers should take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) have been on the market for a longer time and have a proven track record of security.
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 less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to add support for more coins in the near future.
In conclusion it is clear that the Ellipal device is an new player on the market of hardware wallets, promising to be completely secure due to its complete separation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is in line with the other options. While the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security features of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with a unique design but it’s not as convenient in use as the other hardware wallets. Additionally, it’s an extremely new product available on the market.