The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available on the market in recent years. Each promising that digital assets will be safe and secure. The Ellipal wallet is the latest competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe storage of digital assets becomes increasingly crucial. Ellipal wallet Ellipal digital wallet device that stores the private key to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews state the hardware wallet as completely safe, however it is important to note that the hardware wallets of competing firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. For example, even if you connect your TREZOR to a compromised computer that is infected with viruses Your private keys remain secure 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 wireless or wired connectivity. Instead, it communicates via QR codes through a camera on the rear of the. This makes it a highly secure choice as it removes the possibility of hackers having access to the private key through a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it isn’t tested in battle yet. This is something that potential buyers need to take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are around for longer and have a an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is currently working on adding the support of more coins in the future.
In the end, the Ellipal device is an new competitor in the market of hardware wallets that claims that it is 100% safe due to its total inaccessibility to any network or computer. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price at $149 is comparable with its competitors. Although the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as user-friendly for use like other hardware wallets, and it’s an all-new product available on the market.