The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets on the market in recent years. Each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for safe the storage and protection of assets is becoming increasingly important. The Ellipal digital wallet device that keeps the private key to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim they are 100% safe, however it is important to remember that hardware wallets from rival businesses such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For example, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its back of the. This makes it an extremely secure option as it eliminates 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 isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it’s not tested in battle yet. This is something that potential buyers must take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are around for longer and have proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports only a small number of coins, including 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 may be a concern for some customers. However, the company is working to provide more support for coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet is a fresh competitor in the market for hardware wallets that claims to be completely secure because of its complete inaccessibility to any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with the other options. Although the concept of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallet options before making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is up to the individual. It’s a safe option with a unique design however, it’s not as easy for use like other wallets. Additionally, it’s an all-new product that’s available.