The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware on the market in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is a brand new competitor in the field, and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe storage of digital assets becomes more essential. Ellipal wallet Ellipal wallet is a device that keeps the private key to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews claim they are 100% secure, but it’s important to remember that hardware wallets of competing companies like TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR with a compromised computer that has been infected with viruses your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of hackers having access to the private key by the network. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it has not been tested in battle yet. This is something that potential buyers should be aware of when buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for a longer time and have a proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to provide support for more coins in the future.
In conclusion it is clear that the Ellipal device is an new player on the market for hardware wallets, promising that it is 100% safe due to its total separation from any computer or network. Its creators are relatively new and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with other wallets. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the track record and security measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other wallets. Additionally, it’s a relatively new product that’s available.