The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware on the market in recent years. Each promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new entry into the market and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for secure the storage and protection of assets becomes more essential. The Ellipal digital wallet tool that keeps the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised computer that has been infected with viruses, your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker getting an access point to your private keys via an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it’s not combat-tested to date. This is something potential buyers should keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is working to provide more support for coins in the future.
In conclusion, it is clear that the Ellipal wallet has been a brand new competitor in the market of hardware wallets, promising to be 100% secure because of its complete isolation from any network or computer. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins and its price of $149 is in line with the other options. While the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, but it’s not as convenient in use as the other wallets. Additionally, it’s an extremely new product on the market.