The cryptocurrency market has seen an significant increase in the number of wallets that are hardware on the market in recent years. Each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure the storage and protection of assets is becoming increasingly crucial. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on 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 they are completely secure, but it’s important to remember that hardware wallets of competing businesses such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if you connect your TREZOR with a compromised computer which is infected by viruses your private keys will remain secure and safe.
The 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 through a camera on the rear end. This makes it a highly secure choice as it removes the possibility of hackers getting gain access to private information by a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it isn’t battle-tested yet. This is something potential buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for a longer time and have a established track records of security.
In terms of support for coin, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. However, the company is working to add the support of more coins in the future.
In conclusion In conclusion, the Ellipal wallet is a brand new player in the market for hardware wallets that claims to be 100% secure because of its complete separation from any computer or network. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with the other options. While the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the history and security features of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other hardware wallets. It’s also an extremely new product that’s available.