The cryptocurrency market has seen an significant rise in the number of hardware wallets on the market in recent years, each promising that digital assets will be safe and secure. The Ellipal wallet is the latest 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 becomes more important. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim they are completely secure, but it’s important to remember that hardware wallets from rival businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised system that is infected with viruses, your private keys remain secure and safe.
Its 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 connections. Instead, it communicates via QR codes using an image camera at the back of the. This makes it a very secure choice as it removes the possibility of a hacker having an access point to your private keys through the network. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it’s not tested in battle yet. This is something potential buyers need to take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have a established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is working to provide more support for coins in the near future.
In the end it is clear that the Ellipal wallet is a new player on the market for hardware wallets, promising to be 100% safe due to its total inaccessibility to any computer or network. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price at $149 is comparable with other wallets. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly to use as other hardware wallets. It’s also an all-new product on the market.