The world of cryptocurrency has witnessed an significant rise in the number of wallets that are hardware in recent years, each promises that digital assets will be safe and secure. Its Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe the storage and protection of assets becomes more essential. The Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new player 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 reviews online claim they are completely secure, but it’s important to note that the hardware wallets of competing companies like TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. In the event that, for instance, you connect your TREZOR on a compromised system that is infected with viruses, your private keys are still secure and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes via cameras on its rear end. This makes it a very secure option as it eliminates the possibility of a hacker having an access point to your private keys via an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it has not been tested in battle yet. This is something prospective buyers must keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market 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 currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is currently working on adding more support for coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal device is an brand new competitor in the market of hardware wallets, promising that it is 100% secure due to its complete separation from any network or computer. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with the other options. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly to use as other wallets. It’s also an extremely new product available on the market.