The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, all promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for secure the storage and protection of assets becomes increasingly essential. The Ellipal digital wallet device which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys remotely.
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 the development of their product. The website of the company and its online reviews claim the hardware wallet as 100% secure, but it’s important to remember that hardware wallets of competing firms like TREZOR as well as Ledger are made in a way 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 device which is infected by viruses your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using cameras on its rear end. This makes it a very secure option as it eliminates the possibility of a hacker getting access to the private key through a network connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it’s not tested in battle yet. This is something prospective buyers should take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were in business for a longer time and have a proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide the support of more coins in the future.
In the end, it is clear that the Ellipal wallet is a fresh player in the hardware wallet market, promising that it is 100% secure because of its complete inaccessibility to any network or computer. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with its competitors. While the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security features of other hardware wallets before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as easy for use like other wallets, and it’s a relatively new product on the market.