The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets on the market in recent years, all claims that digital assets will be safe and secure. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe security for digital asset storage becomes increasingly important. The Ellipal wallet can be described as a device that stores the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews state they are 100% secure, but it’s important to note that the hardware wallets from rival businesses like 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 to a compromised system that has been infected with viruses your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its back of the. This makes it a very secure option as it eliminates the possibility of hackers gaining an access point to your private keys by the network. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it’s not tested in battle yet. This is something potential buyers should take into consideration when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for longer and have established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to add the support of more coins in the near future.
In the end In conclusion, the Ellipal wallet is a fresh player in the market of hardware wallets that claims to be completely secure because of its complete isolation from any computer or network. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is on par with its competitors. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the track record and security measures of other wallet options before making a choice. In the end, the decision on whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly to use as other wallets. It’s also an all-new product on the market.