The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available in recent years, all claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure the storage and protection of assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews claim that their hardware wallet is completely safe, however it is important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. In the event that, for instance, it is possible to connect your TREZOR on a compromised device which is infected by viruses your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the back of the. This makes it a very secure option as it eliminates the possibility of a hacker gaining access to the private key via a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it’s not battle-tested yet. This is something potential buyers must take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding the support of more coins in the near future.
In the end it is clear that the Ellipal device is an fresh player in the market for hardware wallets, promising to be completely secure because of its complete isolation from any computer or network. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with other wallets. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the history and security features of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly for use like other hardware wallets, and it’s an all-new product available on the market.