The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available on the market in recent years. Each claims to keep digital assets safe and secure. Its Ellipal wallet is a new competitor in the field, and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website and online reviews state that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of competing companies such as TREZOR as well as Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, you connect your TREZOR to a compromised system that is infected with viruses, your private keys remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes via a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker having gain access to private information by the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it isn’t combat-tested to date. This is something prospective buyers need to keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have established track records of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to provide more support for coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet is a brand new player on the hardware wallet market and promises that it is 100% secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with its competitors. Although the concept of a fully isolated hardware wallet is intriguing but it’s crucial to look at the security and track record features of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice with a unique design but it’s not as convenient in use as the other wallets, and it’s an all-new product on the market.