The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets in recent years. Each promises that digital assets will be safe and secure. The Ellipal wallet is the latest competitor in the field, and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure storage of digital assets becomes more important. Ellipal wallet Ellipal digital wallet device which keeps the private keys to digital assets offline, preventing hackers from stealing them remotely.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. They raised $55K in an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim they are completely safe, however it is important to keep in mind that hardware wallets of competing companies like TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised computer that has been infected with viruses your private keys remain safe and secure.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes through a camera on the rear end. This makes it a very secure option as it eliminates the possibility of hackers getting access to the private key by the network. It’s important to note that this also means that 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 fairly new to the market, meaning that it isn’t battle-tested yet. This is something prospective buyers need to be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been around for a longer time and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is currently working on adding support for more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet is a new player in the market for hardware wallets, promising to be 100% secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price of $149 is in line with other wallets. Although the idea of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy for use like other wallets. Additionally, it’s an extremely new product that’s available.