The cryptocurrency market has witnessed a significant increase in the number of hardware wallets in recent years. Each promising to keep digital assets safe and secure. The Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure storage of digital assets becomes more crucial. The Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR with a compromised system which is infected by viruses your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes via cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers gaining an access point to your private keys via the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t 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 recent to market meaning that it isn’t battle-tested yet. This is something that potential buyers must be aware of when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market 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 is currently able to support a limited number of coins that are supported, such as 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 users. However, the company is working to add more support for coins in the future.
In the end, it is clear that the Ellipal device is an new player in the hardware wallet market and promises to be 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with other wallets. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as easy for use like other hardware wallets. Additionally, it’s a relatively new product on the market.