The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available in recent years. Each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure security for digital asset storage becomes more essential. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim that their hardware wallet is completely secure, but it’s important to remember that hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes via an image camera at the rear end. This makes it a very safe option since it blocks the possibility of a hacker getting access to the private key through the network. It’s important to note that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it has not been combat-tested to date. This is something prospective buyers should take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower 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 add the support of more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a brand new competitor in the market of hardware wallets that claims to be completely secure due to its complete separation from any network or computer. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with its competitors. Although the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the history and security features of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s a relatively new product on the market.