The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware on the market in recent years, all promises that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure security for digital asset storage becomes more crucial. Ellipal wallet Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state they are 100% secure, but it’s important to note that the hardware wallets of competing firms such as TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For example, even if you connect your TREZOR with a compromised device which is infected by viruses your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes via an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of a hacker having access to the private key via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it’s not tested in battle yet. This is something that potential buyers should be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been around for a longer time and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports a limited number of coins, including 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 may be a concern for some buyers. But, the company is working to add support for more coins in the near future.
In the end, the Ellipal wallet is a brand new player on the market for hardware wallets and promises that it is 100% secure because of its complete inaccessibility to any computer or network. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is in line with its competitors. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with a unique design but it’s not as convenient to use as other hardware wallets. Additionally, it’s an all-new product available on the market.