The cryptocurrency market has witnessed a significant increase in the number of wallets that are hardware in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage becomes more crucial. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews state the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of rival firms like TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR to a compromised system that is infected with viruses, your private keys are still secure and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes using a camera on the rear end. This makes it a very secure choice as it removes the possibility of a hacker gaining gain access to private information through a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it isn’t tested in battle yet. This is something potential buyers should keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been around for a longer time and have a an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to add support for more coins in the future.
In conclusion, the Ellipal wallet is a brand new player on the market of hardware wallets and promises to be completely secure because of its complete separation from any network or computer. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with other wallets. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly to use as other wallets. It’s also an all-new product on the market.