The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available on the market in recent years, all claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for safe the storage and protection of assets becomes more essential. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state the hardware wallet as completely secure, but it’s important to remember that hardware wallets from rival businesses such as TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, you connect your TREZOR on a compromised device which is infected by viruses, your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes using a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker having an access point to your private keys through the network. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something that potential buyers should keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were on the market for longer and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add more support for coins in the near future.
In the end it is clear that the Ellipal device is an brand new player on the hardware wallet market, promising to be 100% secure due to its complete isolation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is in line with the other options. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option with an innovative design, but it’s not as convenient for use like other hardware wallets, and it’s an all-new product available on the market.