The cryptocurrency market has seen a significant increase in the amount of hardware wallets in recent years, each claims that digital assets will be secure and safe. The Ellipal wallet is a new entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal digital wallet gadget which keeps the private keys to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. They raised $55K in an Indiegogo campaign to fund its development. The website of the company and its reviews online claim that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of rival companies like TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised computer which is infected by viruses, your private keys remain safe and secure.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it transmits QR codes using cameras on its rear end. This makes it a very secure option as it eliminates the possibility of a hacker having gain access to private information through a network connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it has not been tested in battle yet. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have an established track record of security.
In terms of coin support, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins that are supported by its rivals, 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 conclusion, it is clear that the Ellipal device is an brand new competitor in the hardware wallet market and promises to be 100% secure due to its complete separation from any network or computer. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with other wallets. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other hardware wallets, and it’s a relatively new product available on the market.