The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available on the market in recent years, each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe the storage and protection of assets is becoming increasingly important. It is the Ellipal wallet is a 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, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website and online reviews claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised computer which is infected by viruses Your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes via cameras on its rear of the. This makes it a very secure choice as it removes the possibility of hackers getting an access point to your private keys by a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something that potential buyers need to keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have a established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. But, the company is currently working on adding support for more coins in the future.
In the end it is clear that the Ellipal device is an new player on the market of hardware wallets and promises to be 100% secure due to its complete separation from any network or computer. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is in line with the other options. Although the idea 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 choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly in use as the other hardware wallets. It’s also a relatively new product available on the market.