The world of cryptocurrency has seen an significant increase in the amount of hardware wallets on the market in recent years. Each promising 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 the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure storage of digital assets becomes more important. It is the Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR on a compromised device which is infected by viruses your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of a hacker 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 wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which means that it has not been battle-tested yet. This is something potential buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are in business for longer and have established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is currently working on adding more support for coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an new player on the market for hardware wallets that claims that it is 100% secure due to its complete isolation from any network or computer. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with other wallets. Although the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as easy for use like other hardware wallets. Additionally, it’s a relatively new product available on the market.