The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available on the market in recent years. Each promises that digital assets will be secure and safe. Its Ellipal wallet is a new competitor in the field, and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe the storage and protection of assets is becoming increasingly essential. It is the Ellipal digital wallet device that keeps the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of rival companies such as TREZOR as well as 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 to a compromised system which is infected by viruses Your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any computer or network 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 option as it eliminates the possibility of a hacker getting gain access to private information through a network connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it’s not tested in battle yet. This is something prospective buyers must take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have a established track records of security.
In terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is working to add more support for coins in the near future.
In the end In conclusion, the Ellipal wallet is a new player in the market of hardware wallets and promises to be 100% secure because of its complete isolation from any computer or network. Its creators are relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with other wallets. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallets prior to making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as easy in use as the other wallets, and it’s an all-new product that’s available.