The world of cryptocurrency has seen a significant increase in the number of hardware wallets on the market in recent years, all promises to keep digital assets secure and safe. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure security for digital asset storage becomes more essential. The Ellipal wallet can be described as a device which keeps the private keys to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of competing companies such as TREZOR as well as Ledger are made in a way that no one outside can view your private key. In the event that, for instance, you connect your TREZOR on a compromised device which is infected by viruses Your private keys are still protected and safe.
The 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 through QR codes using cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers having gain access to private information via the network. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which means that it isn’t combat-tested to date. This is something that potential buyers need to keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are in business for a longer time and have a proven track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is working to provide the support of more coins in the future.
In the end it is clear that it is clear that the Ellipal wallet is a fresh player on the market for hardware wallets that claims that it is 100% safe due to its total isolation from any computer or network. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with other wallets. Although the idea of a totally separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallets prior to 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 very secure option with a unique design however, it’s not as user-friendly for use like other hardware wallets. It’s also an all-new product on the market.