The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available on the market in recent years. Each claims to keep digital assets safe and secure. Its Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets is becoming increasingly important. Ellipal wallet Ellipal digital wallet device which keeps the private keys to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of competing businesses such as TREZOR and Ledger are made in a way that no one outside can view your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised system that is infected with viruses your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes using a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker getting gain access to private information by the network. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it’s not battle-tested yet. This is something that potential buyers need to be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for a longer time and have a established track records of security.
In terms of support for coin, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is working to add support for more coins in the near future.
In the end, the Ellipal wallet is a brand new player in the market for hardware wallets, promising to be completely secure because of its complete separation from any network or computer. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is on par with other wallets. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other hardware wallets. It’s also a relatively new product that’s available.