The cryptocurrency market has seen an significant rise in the number of wallets that are hardware in recent years. Each claims to keep digital assets safe and secure. The Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe storage of digital assets becomes increasingly important. It is the Ellipal digital wallet device that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state the hardware wallet as 100% secure, but 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 outside attacker can view your private key. For example, even if the TREZOR is connected TREZOR with a compromised computer that has been infected with viruses, your private keys are still 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 transmits QR codes using an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of hackers gaining gain access to private information by an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it isn’t battle-tested yet. This is something potential buyers should be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been on the market for a longer time and have a an established track record of security.
In terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and 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 currently working on adding the support of more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a new player on the market of hardware wallets that claims to be 100% secure because of its complete inaccessibility to any network or computer. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price of $149 is on par with the other options. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record measures of other wallets prior to making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as user-friendly for use like other wallets. Additionally, it’s an all-new product available on the market.