The cryptocurrency market has seen an significant rise in the number of wallets that are hardware in recent years, each promises to keep digital assets secure and safe. Its Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure storage of digital assets is becoming increasingly crucial. It is the Ellipal digital wallet gadget which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews claim the hardware wallet as completely secure, but it’s important to note that the hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR on a compromised computer which is infected by viruses Your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via a camera on the rear end. This makes it a very secure choice as it removes the possibility of hackers having gain access to private information via a network connection. It’s important to note that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it’s not tested in battle yet. This is something that potential buyers should take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have a 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. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to add support for more coins in the future.
In the end, the Ellipal device is an fresh player in the market of hardware wallets and promises that it is 100% secure because of its complete isolation from any computer or network. Its creators are new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with the other options. Although the idea of a totally exclusive hardware wallet is 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 or not the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other wallets. Additionally, it’s a relatively new product on the market.