The world of cryptocurrency has seen an significant increase in the number 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 entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure security for digital asset storage is becoming increasingly essential. It is the Ellipal wallet is a gadget which keeps the private keys 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 reviews online claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of rival firms such as TREZOR and Ledger are made in a way that no one outside can access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised device which is infected by viruses, your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes via a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having gain access to private information via an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it has not been combat-tested to date. This is something prospective buyers must take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for a longer time and have a proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less 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 currently working on adding support for more coins in the near future.
In the end it is clear that the Ellipal device is an brand new competitor in the hardware wallet market and promises to be 100% secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with other wallets. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallets before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly for use like other wallets, and it’s an all-new product available on the market.