The cryptocurrency market has witnessed a significant increase in the number of wallets that are hardware on the market in recent years, each promises that digital assets will be safe and secure. Its Ellipal wallet is a brand new competitor in the field, and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for secure storage of digital assets becomes more essential. Ellipal wallet Ellipal digital wallet tool that keeps the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state that their hardware wallet is completely secure, but it’s important to remember that hardware wallets of competing firms such as TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR on a compromised device which is infected by viruses, your private keys remain safe and secure.
Its 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 through a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker gaining an access point to your private keys through the network. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it isn’t battle-tested yet. This is something potential buyers should be aware of when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were around for longer and have a proven track record of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding the support of more coins in the future.
In conclusion, the Ellipal device is an brand new player on the market of hardware wallets that claims to be 100% secure due to its complete isolation from any network or computer. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with other wallets. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security features of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy for use like other hardware wallets, and it’s an all-new product on the market.