The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware on the market in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure storage of digital assets becomes more crucial. It is the Ellipal digital wallet tool that keeps the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The company’s website and reviews online claim the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised system that is infected with viruses, your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes via a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers having access to the private key via an internet 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 retails for $149. It is fairly brand new in the marketplace, meaning that it isn’t combat-tested to date. This is something potential buyers must be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are around for longer and have established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to add more support for coins in the future.
In the end, the Ellipal device is an new player on the market for hardware wallets, promising that it is 100% secure due to its complete separation from any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with other wallets. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as easy in use as the other hardware wallets, and it’s a relatively new product available on the market.