The world of cryptocurrency has witnessed a significant increase in the amount of wallets that are hardware in recent years, all promising to keep digital assets secure and safe. Its Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe security for digital asset storage becomes more important. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The company’s website as well as reviews online claim they are completely secure, but it’s important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For instance, even if you connect your TREZOR with a compromised system that has been infected with viruses Your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of hackers having an access point to your private keys through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it has not been combat-tested to date. This is something that potential buyers should keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for a longer time and have a 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 along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding more support for coins in the near future.
In the end, it is clear that the Ellipal wallet is a new competitor in the market of hardware wallets that claims to be completely secure because of its complete isolation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with other wallets. Although the concept of a completely isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other hardware wallet options before making a decision. The final decision about whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other hardware wallets. It’s also an all-new product that’s available.