The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets on the market in recent years. Each claims to keep digital assets secure and safe. Its Ellipal wallet is a brand new entry into the market and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for secure security for digital asset storage becomes more crucial. Ellipal wallet Ellipal wallet is a device which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews state that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of competing businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device that has been infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes using cameras on its rear end. This makes it a very secure option as it eliminates the possibility of a hacker gaining gain access to private information through an internet connection. 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 that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it has not been battle-tested yet. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were around for longer and have an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding more support for coins in the future.
In the end it is clear that it is clear that the Ellipal wallet has been a new player in the market for hardware wallets that claims to be 100% safe due to its total inaccessibility to any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is in line with the other options. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the track record and security measures of other wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with a unique design however, it’s not as user-friendly for use like other wallets. Additionally, it’s an all-new product on the market.