The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware on the market in recent years, all promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets is becoming increasingly crucial. It is the Ellipal digital wallet gadget which keeps the private keys to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews claim they are 100% safe, however it is important to remember that hardware wallets of competing firms like TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised device which is infected by 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 that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker getting gain access to private information via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it has not been battle-tested yet. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are in business for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is currently working on adding the support of more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the market for hardware wallets that claims to be completely safe due to its total isolation from any network or computer. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with the other options. While the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other hardware wallets prior to making a decision. The final decision about whether 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 wallets. Additionally, it’s a relatively new product available on the market.