The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware in recent years. Each promises that digital assets will be safe and secure. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for secure storage of digital assets is becoming increasingly important. Ellipal wallet 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 from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The company’s website and reviews online claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses Your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of hackers having an access point to your private keys via the network. It’s important to note that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it’s not battle-tested yet. This is something prospective buyers should take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are in business for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide the support of more coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a brand new player in the hardware wallet market and promises that it is 100% safe due to its total isolation from any network or computer. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with its competitors. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallets before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as easy to use as other hardware wallets. It’s also a relatively new product on the market.