The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets on the market in recent years, all promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure security for digital asset storage becomes more crucial. The Ellipal wallet can be described as a device that keeps the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The website of the company and its reviews online claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. In the event that, for instance, it is possible to connect your TREZOR on a compromised device which is infected by viruses, your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its rear of the. This makes it an extremely secure choice as it removes the possibility of hackers getting gain access to private information via an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it has not been tested in battle yet. This is something that potential buyers should take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. But, the company is working to provide the support of more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a fresh competitor in the market for hardware wallets, promising to be 100% secure due to its complete inaccessibility to any computer or network. Its creators are relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with its competitors. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the track record and security measures of other wallet options before making a decision. The final decision about whether the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with an innovative design, but it’s not as convenient for use like other wallets. It’s also an all-new product on the market.