The cryptocurrency market has witnessed a significant increase in the number of wallets that are hardware on the market in recent years, all promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage becomes more important. It is the Ellipal wallet is a device that keeps the private key to digital assets indefinitely, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to finance its development. The website of the company and its online reviews claim the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of competing firms like TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR on a compromised computer that is infected with viruses your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes using an image camera at the rear end. This makes it a very secure choice as it removes the possibility of hackers getting access to the private key by the network. It’s important to note that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it isn’t combat-tested to date. This is something that potential buyers should keep in mind when considering purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for a longer time and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with 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 buyers. But, the company is working to provide support for more coins in the future.
In conclusion, the Ellipal device is an new competitor in the market for hardware wallets that claims to be 100% secure due to its complete isolation from any network or computer. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with other wallets. Although the concept of a fully isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a decision. The final decision about whether the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as easy for use like other wallets. Additionally, it’s an extremely new product on the market.