The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available on the market in recent years, all claims to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure security for digital asset storage is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state that their hardware wallet is 100% safe, however it is important to note that the hardware wallets from rival companies like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR to a compromised computer which is infected by viruses, your private keys are still secure and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connections. Instead, it communicates through QR codes through an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having gain access to private information via a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it has not been battle-tested yet. This is something potential buyers should keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add support for more coins in the future.
In conclusion it is clear that the Ellipal wallet is a fresh competitor in the market of hardware wallets and promises to be completely safe due to its total inaccessibility to any network or computer. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with its competitors. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallets before making a choice. The final decision about whether or not the Ellipal device is well worth the price is up to the individual. It’s a safe option that has a modern design however, it’s not as easy to use as other hardware wallets, and it’s an all-new product on the market.