The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for safe the storage and protection of assets becomes more important. Ellipal wallet Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website and reviews online claim the hardware wallet as completely secure, but it’s important to remember that hardware wallets of rival firms like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. For example, even if it is possible to connect your TREZOR to a compromised computer which is infected by viruses your private keys are still safe and secure.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using cameras on its rear of the. This makes it a very safe option since it blocks the possibility of hackers getting an access point to your private keys via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it has not been tested in battle yet. This is something potential buyers should be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were on the market for longer and have a proven track record of security.
In terms of coin support, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is working to provide the support of more coins in the near future.
In the end, the Ellipal device is an brand new player in the market for hardware wallets that claims to be 100% secure because of its complete separation from any computer or network. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price at $149 is comparable with its competitors. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the history and security features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal device is well worth the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as user-friendly to use as other wallets. It’s also an all-new product that’s available.