The world of cryptocurrency has witnessed an significant rise in the number of wallets that are hardware on the market in recent years. Each promising that digital assets will be safe and secure. Its Ellipal wallet is a brand new entrant in this field and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for safe security for digital asset storage is becoming increasingly crucial. Ellipal wallet Ellipal digital wallet gadget which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. They raised $55K in 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 completely secure, however, it’s important to keep in mind that hardware wallets of competing firms like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device that has been infected with viruses, your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes via an image camera at the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker gaining access to the private key through a network connection. It’s important to note that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it has not been combat-tested to date. This is something that potential buyers need to be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for longer and have established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is working to add the support of more coins in the near future.
In the end, the Ellipal device is an brand new competitor in the market for hardware wallets and promises to be 100% secure due to its complete separation from any network or computer. Ellipal is a company that’s new and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a completely isolated hardware wallet is intriguing however, you should consider the security and track record measures of other wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other hardware wallets. Additionally, it’s a relatively new product on the market.