The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available in recent years. Each claims that digital assets will be safe and secure. The Ellipal wallet is a new competitor in the field, and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure security for digital asset storage becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website as well as online reviews claim they are completely secure, however, it’s important to remember that hardware wallets of rival firms like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For instance, even if you connect your TREZOR to a compromised device which is infected by viruses, your private keys remain safe and secure.
The Ellipal wallet is unique 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 using cameras on its rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining access to the private key by the network. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it’s not battle-tested yet. This is something that potential buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were around for longer and have proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is working to add support for more coins in the future.
In conclusion, it is clear that the Ellipal device is an new player on the market of hardware wallets, promising to be 100% secure due to its complete isolation from any computer or network. The company behind it is new and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with the other options. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option that has a modern design but it’s not as convenient in use as the other wallets. Additionally, it’s an all-new product available on the market.