The cryptocurrency market has seen an significant increase in the amount of hardware wallets available in recent years, all promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for secure the storage and protection of assets becomes increasingly crucial. The Ellipal wallet is a tool which keeps the private keys to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The company’s website and online reviews claim they are 100% safe, however it is important to keep in mind that hardware wallets of competing firms such as 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 you connect your TREZOR with a compromised system that has been infected with viruses your private keys are still safe and secure.
Its Ellipal wallet is unique in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through cameras on its back of the. This makes it a highly safe option since it blocks the possibility of a hacker gaining access to the private key through the network. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it isn’t tested in battle yet. This is something prospective buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have established track records of security.
In terms of coin support, the Ellipal wallet is currently able to support only a small number of coins which include 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 may be a concern for some buyers. However, the company is working to add more support for coins in the near future.
In the end, the Ellipal wallet is a brand new competitor in the market of hardware wallets that claims to be 100% secure due to its complete inaccessibility to any computer or network. The company behind it is relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with its competitors. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallets prior to making a decision. The final decision about whether the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option with a unique design but it’s not as convenient to use as other wallets. Additionally, it’s a relatively new product that’s available.