The world of cryptocurrency has seen a significant increase in the number of wallets that are hardware on the market in recent years, each promising that digital assets will be secure and safe. Its Ellipal wallet is the latest competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure storage of digital assets becomes more crucial. Ellipal wallet Ellipal wallet is a device that keeps the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets from rival firms such as TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For instance, even if you connect your TREZOR to a compromised computer which is infected by viruses, your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of a hacker gaining access to the private key via a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it’s not tested in battle yet. This is something potential buyers must keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is currently working on adding support for more coins in the near future.
In the end, it is clear that the Ellipal wallet has been a new competitor in the market of hardware wallets, promising to be 100% secure due to its complete separation from any network or computer. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with 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 however, you should consider the track record and security features of other hardware wallets prior to making a choice. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as user-friendly for use like other hardware wallets. It’s also a relatively new product available on the market.