The cryptocurrency market has seen a significant increase in the number of hardware wallets on the market in recent years, all claims to keep digital assets safe and secure. Its Ellipal wallet is a new entrant in this field and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure the storage and protection of assets becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a tool that stores the private key to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of rival companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised system that is infected with viruses Your private keys remain protected and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining an access point to your private keys by a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it isn’t tested in battle yet. This is something prospective buyers must take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for longer and have a an established track record of security.
In terms of coin support, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is working to add more support for coins in the future.
In the end it is clear that it is clear that the Ellipal wallet has been a fresh competitor in the hardware wallet market that claims to be 100% secure because of 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 supports a limited number of coins and its price of $149 is on par with the other options. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as user-friendly for use like other hardware wallets. It’s also a relatively new product available on the market.