The cryptocurrency market has seen a significant rise in the number of hardware wallets available in recent years, all claims that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe the storage and protection of assets becomes increasingly essential. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of competing companies like TREZOR and Ledger are made in a way that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR on a compromised device that has been infected with viruses Your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes via an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of a hacker having gain access to private information through a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it’s not combat-tested to date. This is something potential buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been on the market for longer and have a proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. The company is working to provide support for more coins in the near future.
In the end it is clear that the Ellipal wallet is a brand new player in the market for hardware wallets that claims to be completely secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s new and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and the price at $149 is comparable with its competitors. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallet options before making a decision. The final decision about whether the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option that has a modern design but it’s not as convenient in use as the other hardware wallets. Additionally, it’s an all-new product available on the market.