The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware in recent years, each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes more essential. Ellipal wallet Ellipal digital wallet tool that keeps the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The website of the company and its reviews online claim the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of competing businesses such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised device that is infected with viruses your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of a hacker having gain access to private information via an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it’s not combat-tested to date. This is something potential buyers should keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for longer and have established track records of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add the support of more coins in the near future.
In conclusion In conclusion, the Ellipal wallet is a fresh player on the market of hardware wallets, promising to be 100% safe due to its total inaccessibility to any network or computer. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with the other options. Although the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other hardware wallets, and it’s an all-new product on the market.