The world of cryptocurrency has seen a significant increase in the amount of hardware wallets on the market in recent years, all promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a tool that stores the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets from rival businesses such as TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device which is infected by viruses your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker gaining gain access to private information through an internet connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it has not been combat-tested to date. This is something potential buyers must be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been in business for a longer time and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as 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 customers. The company is currently working on adding the support of more coins in the near future.
In conclusion it is clear that the Ellipal wallet is a brand new competitor in the market of hardware wallets, promising to be 100% secure because of its complete isolation from any network or computer. Ellipal is a company that’s new, and the product has not been battle-tested yet. The Ellipal wallet 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 fully exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallets before making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option with a unique design but it’s not as convenient to use as other wallets. Additionally, it’s an extremely new product on the market.