The world of cryptocurrency has seen a significant increase in the amount of hardware wallets on the market in recent years, each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes more crucial. It is the Ellipal digital wallet device which keeps the private keys to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of competing firms like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR on a compromised computer which is infected by viruses Your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its rear end. This makes it a highly safe option since it blocks the possibility of a hacker getting an access point to your private keys by a network connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it’s not tested in battle yet. This is something that potential buyers need to be aware of when buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for a longer time and have a established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is working to provide the support of more coins in the future.
In the end, it is clear that the Ellipal device is an fresh player in the market for hardware wallets, promising that it is 100% safe due to its total separation from any computer or network. Ellipal is a company that’s new and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins and the price at $149 is comparable with other wallets. While the idea of a totally separated hardware wallet sounds appealing however, you should consider the track record and security measures of other wallets before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy to use as other hardware wallets. It’s also a relatively new product that’s available.