The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available in recent years. Each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for safe security for digital asset storage is becoming increasingly important. It is the Ellipal wallet is a tool that stores the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance its development. The company’s website as well as online reviews state the hardware wallet as completely secure, but it’s important to remember that hardware wallets from rival firms such as TREZOR and Ledger are made in a way that no one outside can see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised computer that is infected with viruses your private keys remain safe and secure.
Its 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 connections. 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 a hacker getting access to the private key by a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it isn’t combat-tested to date. This is something prospective buyers need to take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were around for longer and have proven track record of security.
Regarding support for coins in terms of coin support, 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 along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide more support for coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal device is an fresh player in the market of hardware wallets that claims to be completely secure due to its complete isolation from any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with its competitors. While the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other wallets prior to making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as user-friendly in use as the other hardware wallets. It’s also a relatively new product available on the market.