The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware on the market in recent years, all promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure security for digital asset storage is becoming increasingly essential. The Ellipal digital wallet device that keeps the private key to digital assets offline to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews claim that their hardware wallet is completely safe, however it is important to note that the hardware wallets from 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 on a compromised system that is infected with viruses your private keys are still protected and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes using an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker getting access to the private key via a network connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it’s not tested in battle yet. This is something potential buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been in business for longer and have proven track record of security.
Regarding support for coins 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 coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is working to provide support for more coins in the near future.
In conclusion, the Ellipal wallet is a fresh player in the market for hardware wallets and promises to be completely secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is on par with other wallets. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the track record and security measures of other wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient to use as other hardware wallets. It’s also an all-new product available on the market.