The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available in recent years, each claims to keep digital assets secure and safe. The Ellipal wallet is the latest competitor in the field, and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage becomes more important. The Ellipal digital wallet tool that keeps the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of competing firms like TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. For example, even if it is possible to connect your TREZOR with a compromised system that is infected with viruses, your private keys remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through cameras on its rear of the. This makes it a highly secure choice as it removes the possibility of a hacker getting access to the private key through a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it has not been combat-tested to date. This is something potential buyers should be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are around for a longer time and have a an established track record of security.
Regarding support for coins, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower 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 working to add support for more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal device is an new player in the market for hardware wallets, promising to be completely secure due to its complete inaccessibility to any computer or network. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with the other options. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets before making a choice. The final decision about whether or not the Ellipal device is well worth the cost is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy for use like other hardware wallets. Additionally, it’s an all-new product available on the market.