The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets available on the market in recent years. Each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure storage of digital assets becomes more crucial. Ellipal wallet Ellipal digital wallet device that keeps the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews state the hardware wallet as 100% secure, but it’s important to remember that hardware wallets of rival firms such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised device that is infected with viruses, your private keys remain protected and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes via cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of hackers having an access point to your private keys through an internet connection. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it’s not combat-tested to date. This is something prospective buyers must keep in mind when considering buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have established track records of security.
In terms of support for coin, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as 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. But, the company is working to add the support of more coins in the near future.
In conclusion In conclusion, the Ellipal device is an fresh player on the hardware wallet market that claims to be 100% secure because of its complete inaccessibility to any network or computer. The company behind it is relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with the other options. Although the idea of a totally separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a very secure option that has a modern design but it’s not as convenient for use like other wallets. It’s also a relatively new product that’s available.