The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware on the market in recent years, all promises that digital assets will be secure and safe. The Ellipal wallet is a new competitor in the field, and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for safe storage of digital assets becomes more crucial. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state they are 100% secure, however, it’s important to note that the hardware wallets from rival firms like TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For example, even if you connect your TREZOR on a compromised device that is infected with viruses, your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it a very secure choice as it removes the possibility of a hacker having an access point to your private keys via an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it’s not combat-tested to date. This is something prospective buyers need to take into consideration when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) were in business for a longer time and have a an established track record of security.
In terms of support for coin, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is working to provide the support of more coins in the future.
In the end it is clear that the Ellipal device is an brand new player in the market of hardware wallets and promises to be 100% secure because of its complete isolation from any network or computer. Its creators are relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with other wallets. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other wallets. It’s also an all-new product on the market.