The world of cryptocurrency has seen an significant increase in the number of hardware wallets available on the market in recent years. Each promising to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for secure security for digital asset storage becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund its development. The website of the company and its online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are made in a way that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR to a compromised system that has been infected with viruses your private keys 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 wireless or wired connections. Instead, it communicates via QR codes through a camera on the back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining an access point to your private keys through the network. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it’s not combat-tested to date. This is something prospective buyers must be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have established track records of security.
Regarding support for coins, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding more support for coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a fresh competitor in the market for hardware wallets that claims to be completely secure because of its complete isolation from any network or computer. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag at $149 is comparable with its competitors. Although the concept of a completely isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallets prior to making a choice. The final decision about 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 however, it’s not as easy in use as the other wallets. It’s also an all-new product that’s available.