The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets on the market in recent years, each promises that digital assets will be safe and secure. The Ellipal wallet is a brand new entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure the storage and protection of assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a tool that keeps the private key to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website and reviews online claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. For instance, even if you connect your TREZOR with a compromised device that is infected with viruses Your private keys are still protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it a very secure choice as it removes the possibility of a hacker getting an access point to your private keys via the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it’s not battle-tested yet. This is something prospective buyers need to take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been around for longer and have a an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is currently working on adding support for more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a new player in the market for hardware wallets that claims to be completely secure because of its complete inaccessibility to any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with the other options. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallets before making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as user-friendly in use as the other hardware wallets. It’s also an all-new product on the market.