The cryptocurrency market has seen an significant increase in the number of wallets that are hardware in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure storage of digital assets is becoming increasingly crucial. It is the Ellipal digital wallet device that keeps the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews claim the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets from rival firms like TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. For example, even if you connect your TREZOR on a compromised computer that is infected with viruses your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes through a camera on the back of the. This makes it a very secure option as it eliminates the possibility of a hacker having gain access to private information by a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it isn’t battle-tested yet. This is something prospective buyers need to keep in mind when considering purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been around for longer and have a established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. 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 brand new player in the market for hardware wallets and promises to be 100% safe due to its total separation from any network or computer. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag at $149 is comparable with the other options. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the track record and security measures of other wallets prior to making a decision. The final decision about whether the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly for use like other hardware wallets, and it’s an all-new product available on the market.