The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware in recent years, each claims to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews claim they are 100% secure, however, it’s important to remember that hardware wallets of competing firms like TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised device which is infected by viruses, your private keys will remain secure and safe.
Its Ellipal wallet is unique 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 via QR codes via cameras on its rear of the. This makes it a very secure option as it eliminates the possibility of a hacker getting gain access to private information by an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it has not been combat-tested to date. This is something potential buyers should be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have a an established track record of security.
Regarding support for coins, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin and 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 buyers. However, the company is currently working on adding support for more coins in the near future.
In the end it is clear that the Ellipal device is an brand new player in the market for hardware wallets and promises to be completely secure due to its complete inaccessibility to any computer or network. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is on par with its competitors. Although the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other hardware wallets before making a choice. The final decision about whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other hardware wallets, and it’s a relatively new product on the market.