The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, each claims to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure storage of digital assets becomes more important. It is the Ellipal digital wallet device that keeps the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund its development. The website of the company and its online reviews state that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets from rival companies such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised system which is infected by viruses Your private keys remain safe and secure.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes using cameras on its back of the. This makes it a highly secure option as it eliminates the possibility of hackers getting gain access to private information by a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it isn’t tested in battle yet. This is something that potential buyers should take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) were in business for longer and have a an established track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with 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 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 fresh 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 tested in battle yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with other wallets. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an all-new product available on the market.