The cryptocurrency market has seen a significant rise in the number of hardware wallets available on the market in recent years, all claims that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets is becoming increasingly important. The Ellipal digital wallet gadget which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the hardware wallet, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The company’s website as well as reviews online claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets from rival companies like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised system which is infected by viruses your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of hackers gaining gain access to private information through a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it isn’t 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 makers today (TREZOR as well as Ledger) were on the market for longer and have a an established track record of security.
In terms of coin support, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is working to add more support for coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal wallet is a brand new player on the market of hardware wallets, promising that it is 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 tested in battle yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is on par with other wallets. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy in use as the other hardware wallets. It’s also a relatively new product available on the market.