The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available in recent years, each promises to keep digital assets secure and safe. Its Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe security for digital asset storage is becoming increasingly crucial. The Ellipal digital wallet gadget which keeps the private keys to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website and online reviews claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of competing firms such as TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. In the event that, for instance, it is possible to connect your TREZOR to a compromised computer which is infected by viruses, your private keys are still secure and safe.
The 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 through an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of hackers gaining access to the private key through an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t 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 relatively recent to market meaning that it has not been combat-tested to date. This is something prospective buyers should take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have a proven track record of security.
In terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to provide the support of more coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal device is an brand new player in the market for hardware wallets that claims that it is 100% secure due to its complete isolation from any network or computer. The company behind it is new and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is on par with the other options. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy for use like other wallets. Additionally, it’s a relatively new product that’s available.