The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available in recent years, each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes more crucial. The Ellipal wallet is a gadget which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young company on the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised system that is infected with viruses Your private keys will remain protected and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes through a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting gain access to private information through the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it isn’t battle-tested yet. This is something prospective buyers must take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have proven track record of security.
In terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide the support of more coins in the near future.
In the end it is clear that the Ellipal wallet has been a brand new player in the market of hardware wallets that claims that it is 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with other wallets. While the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the track record and security features of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a safe option with an innovative design, but it’s not as convenient for use like other hardware wallets. Additionally, it’s an extremely new product that’s available.