The world of cryptocurrency has seen an significant increase in the amount of hardware wallets in recent years, each claims to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets becomes increasingly important. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The company’s website and online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of rival firms like TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. In the event that, for instance, you connect your TREZOR with a compromised system that has been infected with viruses Your private keys are still protected and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via cameras on its back of the. This makes it a very secure choice as it removes the possibility of a hacker gaining an access point to your private keys via a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it’s not battle-tested yet. This is something prospective buyers need to take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been around for longer and have a an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide support for more coins in the future.
In the end, it is clear that the Ellipal wallet has been a new competitor in the market of hardware wallets that claims to be 100% safe due to its total separation from any network or computer. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price at $149 is comparable with its competitors. While the idea of a totally isolated hardware wallet is intriguing however, you should consider the track record and security features of other hardware wallets prior to making a decision. The final decision about 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 an innovative design, however, it’s not as user-friendly to use as other hardware wallets, and it’s an all-new product that’s available.