The world of cryptocurrency has seen an significant increase in the amount of hardware wallets on the market in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure the storage and protection of assets becomes more important. It is the Ellipal digital wallet device which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews claim they are completely secure, however, it’s important to remember that hardware wallets of rival firms such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if the TREZOR is connected TREZOR on a compromised system which is infected by viruses, your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes using cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of hackers getting gain access to private information by a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it has not been combat-tested to date. This is something prospective buyers should keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been around for longer and have a established track records of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to add support for more coins in the near future.
In conclusion, it is clear that the Ellipal device is an brand new player in the hardware wallet market that claims that it is 100% secure due to its complete inaccessibility to any network or computer. Its creators are new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with other wallets. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallets prior to making a decision. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with a unique design but it’s not as convenient for use like other wallets. It’s also an extremely new product that’s available.