The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware in recent years, each promises that digital assets will be safe and secure. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for secure storage of digital assets becomes increasingly crucial. It is the Ellipal digital wallet device that stores the private key to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in 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 reviews online claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of competing businesses such as TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised device which is infected by viruses Your private keys are still safe and secure.
Its Ellipal wallet is distinctive 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 an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of a hacker getting access to the private key via the network. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it’s not battle-tested yet. This is something prospective buyers should keep in mind when considering purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been in business for longer and have a an established track record of security.
In terms of support for coin, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide the support of more coins in the future.
In the end, the Ellipal device is an new player on the hardware wallet market that claims that it is 100% secure due to its complete separation from any network or computer. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price at $149 is comparable with the other options. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallets before 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 a very secure option with a unique design however, it’s not as user-friendly in use as the other hardware wallets, and it’s an extremely new product on the market.