The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available in recent years, each promises that digital assets will be safe and secure. The Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets becomes increasingly crucial. The Ellipal digital wallet gadget which keeps the private keys to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. In the event that, for instance, you connect your TREZOR on a compromised system that is infected with viruses your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its rear of the. This makes it a very secure choice as it removes the possibility of a hacker getting access to the private key via the network. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it’s not battle-tested yet. This is something that potential buyers should take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were on the market for longer and have proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is working to provide more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a brand new player on the market for hardware wallets and promises to be 100% secure due to its complete separation from any computer or network. Ellipal is a company that’s new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with the other options. Although the concept of a fully isolated hardware wallet is intriguing, it’s important to consider the security and track record features of other hardware wallet options before making a choice. The final decision about whether the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s an all-new product that’s available.