The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware on the market in recent years. Each claims that digital assets will be safe and secure. The Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal digital wallet device which keeps the private keys to digital assets offline, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews state the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR with a compromised computer which is infected by viruses your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining gain access to private information through an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it isn’t battle-tested yet. This is something potential buyers must take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are 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, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to add more support for coins in the future.
In conclusion, it is clear that the Ellipal wallet has been a brand new player in the market for hardware wallets and promises that it is 100% secure because of its complete isolation from any computer or network. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and its price at $149 is comparable with the other options. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly for use like other hardware wallets. It’s also an extremely new product available on the market.