The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets in recent years, each promises that digital assets will be safe and secure. Its Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe security for digital asset storage becomes increasingly essential. The Ellipal digital wallet device which keeps the private keys to digital assets offline, preventing hackers from stealing their assets 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 research and development for their products. The company’s website and reviews online claim they are 100% safe, however it is important to remember that hardware wallets of rival firms such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR to a compromised system which is infected by viruses, your private keys are still safe and secure.
Its Ellipal wallet is unique in its design. It is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes using an image camera at the rear of the. This makes it a very secure choice as it removes the possibility of hackers gaining access to the private key via a network connection. It’s important to note that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it has not been combat-tested to date. This is something prospective buyers need to be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were on the market for longer and have proven track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is working to provide the support of more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a brand new competitor in the hardware wallet market and promises that it is 100% secure because of its complete isolation from any computer or network. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with its competitors. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallet options before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy to use as other wallets, and it’s an all-new product on the market.