The world of cryptocurrency has seen an significant increase in the number of hardware wallets available in recent years. Each promising that digital assets will be safe and secure. The Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets becomes increasingly crucial. The Ellipal digital wallet device that keeps the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The company’s website and reviews online claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of rival companies such as TREZOR as well as Ledger are made 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 that is infected with viruses your private keys will remain protected and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes via a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting access to the private key by the network. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it isn’t combat-tested to date. This is something prospective buyers must be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for a longer time and have a an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is working to provide more support for coins in the future.
In the end it is clear that the Ellipal wallet is a brand new competitor in the market of hardware wallets and promises to be completely safe due to its total isolation from any network or computer. Ellipal is a company that’s new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with its competitors. Although the concept of a totally separated hardware wallet sounds appealing however, you should consider the history and security features of other hardware wallets before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with an innovative design, but it’s not as convenient to use as other hardware wallets, and it’s a relatively new product that’s available.