The world of cryptocurrency has witnessed a significant rise in the number of wallets that are hardware on the market in recent years. Each promising that digital assets will be secure and safe. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure security for digital asset storage is becoming increasingly essential. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets 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 help fund its development. The website of the company and its online reviews claim that their hardware wallet is completely secure, but it’s important to remember that hardware wallets of competing companies like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR to a compromised system that is infected with viruses Your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via a camera on the back of the. This makes it a very secure choice as it removes the possibility of hackers getting gain access to private information through the network. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it has not been combat-tested to date. This is something that potential buyers need to take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for a longer time and have a established track records of security.
In terms of coin support, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is working to provide support for more coins in the future.
In the end it is clear that the Ellipal device is an new player in the market for hardware wallets, promising to be completely secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with other wallets. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the cost 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 for use like other hardware wallets. It’s also a relatively new product that’s available.