The cryptocurrency market has seen a significant increase in the amount of hardware wallets available in recent years, each claims to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for safe storage of digital assets becomes increasingly essential. The Ellipal wallet is a device which keeps the private keys to digital assets indefinitely, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets from rival companies like TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. For example, even if you connect your TREZOR to a compromised computer which is infected by viruses your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker getting an access point to your private keys by the network. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it’s not combat-tested to date. This is something prospective buyers need to keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are around for a longer time and have a an established track record of security.
In terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is working to add more support for coins in the future.
In conclusion it is clear that it is clear that the Ellipal device is an brand new player in the hardware wallet market and promises that it is 100% secure because of its complete isolation from any computer or network. Its creators are new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with its competitors. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as user-friendly for use like other hardware wallets. Additionally, it’s an all-new product that’s available.