The world of cryptocurrency has seen a significant increase in the amount of hardware wallets in recent years, each promises that digital assets will be safe and secure. The Ellipal wallet is a new entrant in this field and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal digital wallet tool that keeps the private key to digital assets indefinitely 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 finance its development. The company’s website and online reviews state the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of rival companies such as TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR on a compromised device that is infected with viruses, your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes using cameras on its back of the. This makes it a very safe option since it blocks the possibility of hackers gaining gain access to private information via an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it isn’t tested in battle yet. This is something that potential buyers must be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for longer and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is working to provide the support of more coins in the future.
In the end, the Ellipal device is an new player in the market for hardware wallets that claims to be completely safe due to its total 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 currently supports only a few coins and its price at $149 is comparable with other wallets. Although the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy to use as other hardware wallets. Additionally, it’s an all-new product on the market.