The world of cryptocurrency has seen an significant increase in the amount of hardware wallets available on the market in recent years, all promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure storage of digital assets is becoming increasingly important. The Ellipal digital wallet device that keeps the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund its development. The website of the company and its online reviews claim they are 100% secure, however, it’s important to keep in mind that hardware wallets from rival companies such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised system which is infected by viruses your private keys remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through cameras on its back of the. This makes it a very secure option as it eliminates the possibility of hackers gaining access to the private key through the network. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it has not been battle-tested yet. This is something potential buyers should keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for a longer time and have a an established track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is currently working on adding more support for coins in the near future.
In the end, it is clear that the Ellipal device is an brand new competitor in the market of hardware wallets that claims to be 100% secure due to its complete inaccessibility to any network or computer. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with its competitors. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider 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 wallet is worth the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as easy to use as other hardware wallets, and it’s an all-new product available on the market.