The world of cryptocurrency has seen a significant rise in the number of hardware wallets available in recent years, all claims to keep digital assets secure and safe. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a tool that stores the private key to digital assets indefinitely and prevents hackers from taking the keys 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 research and development for their products. The company’s website and reviews online claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. In the event that, for instance, you connect your TREZOR with a compromised device that is infected with viruses, your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes using an image camera at the back of the. This makes it an extremely secure option as it eliminates the possibility of hackers having gain access to private information through an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it isn’t tested in battle yet. This is something prospective buyers need to be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have a proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is currently working on adding more support for coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a fresh player on the market of hardware wallets, promising to be 100% secure because of its complete separation from any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and the price at $149 is comparable with the other options. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallets before making a decision. In the end, the decision on whether the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as easy for use like other hardware wallets, and it’s an extremely new product available on the market.