The cryptocurrency market has seen an significant increase in the amount of hardware wallets on the market in recent years. Each claims to keep digital assets secure and safe. Its Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe the storage and protection of assets becomes increasingly important. Ellipal wallet Ellipal wallet is a tool that keeps the private key to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state they are 100% secure, but it’s important to keep in mind that hardware wallets of rival companies like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR on a compromised system that has been infected with viruses your private keys are still protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the rear of the. This makes it a highly safe option since it blocks the possibility of hackers gaining gain access to private information through the network. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it isn’t battle-tested yet. This is something potential buyers must keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers 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, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an brand new player in the market of hardware wallets that claims that it is 100% secure because of its complete inaccessibility to any computer or network. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with the other options. While the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other hardware wallets before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option with a unique design however, it’s not as user-friendly for use like other hardware wallets. It’s also a relatively new product that’s available.