The cryptocurrency market has seen an significant increase in the number of wallets that are hardware on the market in recent years, each promises to keep digital assets secure and safe. The 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 becomes more mainstream it is becoming more important to secure the storage and protection of assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet is a tool which keeps the private keys to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets from rival firms like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised computer which is infected by viruses your private keys will remain protected and safe.
Its 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 communicates via QR codes using cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of a hacker gaining an access point to your private keys via the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it’s not combat-tested to date. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were around for a longer time and have a an established track record of security.
In terms of coin support, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding support for more coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an new player in the hardware wallet market, promising that it is 100% secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with its competitors. Although the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal wallet is 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 wallets, and it’s a relatively new product on the market.