The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware on the market in recent years, all claims to keep digital assets secure and safe. Its Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes more crucial. The Ellipal digital wallet gadget that stores 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 an Indiegogo campaign to finance its development. The website of the company and its online reviews state that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no outside attacker can see your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised system that is infected with viruses Your private keys will remain safe and secure.
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 transmits QR codes through a camera on the back of the. This makes it an extremely secure option as it eliminates the possibility of hackers gaining access to the private key via the network. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it isn’t combat-tested to date. This is something potential buyers should take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were around for longer and have a proven track record of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is currently working on adding support for more coins in the future.
In the end, the Ellipal device is an brand new player on the market for hardware wallets, promising to be completely secure due to its complete isolation from any computer or network. Its creators are 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 in line with other wallets. Although the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other wallets, and it’s an extremely new product available on the market.