The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware on the market in recent years. Each claims that digital assets will be secure and safe. The Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure security for digital asset storage becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a tool that stores the private key to digital assets off-line to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. They raised $55K in an Indiegogo campaign to finance its development. The website of the company and its online reviews state they are completely safe, however it is important to note that the hardware wallets from rival companies such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR with a compromised device which is infected by viruses, your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining gain access to private information via a network connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it’s not tested in battle yet. This is something potential buyers must be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for longer and have established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding more support for coins in the near future.
In the end, the Ellipal wallet has been a brand new player on the hardware wallet market and promises that it is 100% safe due to its total separation from any computer or network. The company behind it is new and the product has not been tested in battle 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 its competitors. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the track record and security measures of other wallets prior to making a decision. The final decision about whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an extremely new product available on the market.