The cryptocurrency market has seen a significant increase in the number of hardware wallets available in recent years, each claims to keep digital assets 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 the use of cryptocurrency becomes more mainstream it is becoming more important to secure security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal wallet is a device that stores the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state they are 100% secure, but it’s important to remember that hardware wallets of competing businesses like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised system which is infected by viruses your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes through a camera on the back of the. This makes it a very safe option since it blocks the possibility of a hacker having access to the private key through a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it has not been combat-tested to date. This is something potential buyers should take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have 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 is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to add support for more coins in the near future.
In the end, it is clear that the Ellipal wallet has been a brand new competitor in the market for hardware wallets and promises to be 100% safe due to its total isolation from any computer or network. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is in line with its competitors. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy to use as other hardware wallets. It’s also an all-new product on the market.