The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware on the market in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure security for digital asset storage becomes more essential. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its reviews online claim that their hardware wallet is 100% safe, however it is important to note that the hardware wallets from rival businesses such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR with 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 wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the back of the. This makes it an extremely secure option as it eliminates the possibility of hackers gaining an access point to your private keys via the network. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it’s not combat-tested to date. This is something prospective buyers need to take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are in business for longer and have an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is currently working on adding the support of more coins in the future.
In the end, the Ellipal wallet has been a new player in the market of hardware wallets and promises to be 100% secure due to its complete separation from any network or computer. The company behind it is relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is in line with its competitors. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallet options before making a choice. 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, but it’s not as convenient for use like other wallets, and it’s an all-new product available on the market.