The cryptocurrency market has seen a significant increase in the number of hardware wallets available in recent years, each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest 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 becomes more important. Ellipal wallet Ellipal digital wallet gadget which keeps the private keys to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets of competing firms like TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised computer which is infected by viruses your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using a camera on the rear of the. This makes it a highly safe option since it blocks the possibility of hackers getting access to the private key through the network. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it’s not battle-tested yet. This is something prospective buyers must take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have a an established track record of security.
In terms of support for coin, the Ellipal wallet supports only a small 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 could be a problem for some customers. However, the company is working to add more support for coins in the future.
In conclusion it is clear that it is clear that the Ellipal device is an new competitor in the market for hardware wallets that claims that it is 100% safe due to its total isolation from any network or computer. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is in line with its competitors. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as user-friendly for use like other wallets. Additionally, it’s a relatively new product on the market.