The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available on the market in recent years, all promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure security for digital asset storage becomes more crucial. Ellipal wallet Ellipal wallet is a tool that keeps the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of rival companies like TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised computer which is infected by viruses your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes via a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker gaining gain access to private information by an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it’s not combat-tested to date. This is something prospective buyers should take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for a longer time and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is working to add the support of more coins in the future.
In the end In conclusion, the Ellipal wallet has been a new player in the hardware wallet market that claims to be 100% secure due to its complete inaccessibility to any network or computer. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with its competitors. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallets before making a choice. In the end, the decision on 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 but it’s not as convenient to use as other hardware wallets. It’s also an extremely new product on the market.