The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets available in recent years. Each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe security for digital asset storage becomes more crucial. It is the Ellipal digital wallet device that keeps the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state they are 100% secure, but it’s important to note that the hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised computer that is infected with viruses your private keys are still 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 communicates via QR codes via cameras on its rear end. This makes it an extremely secure option as it eliminates the possibility of hackers having access to the private key via the network. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it isn’t battle-tested yet. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide support for more coins in the future.
In the end, the Ellipal wallet is a fresh player on the market for hardware wallets that claims that it is 100% secure due to its complete isolation from any computer or network. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with its competitors. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallet options before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy for use like other wallets. It’s also an extremely new product that’s available.