The cryptocurrency market has seen a significant increase in the number of hardware wallets available on the market in recent years. Each promises to keep digital assets safe and secure. Its Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for secure security for digital asset storage is becoming increasingly crucial. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund its development. The website of the company and its online reviews claim they are 100% secure, but it’s important to note that the hardware wallets from rival firms such as TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR to a compromised computer which is infected by viruses, your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of hackers gaining an access point to your private keys through the network. It’s important to note that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it isn’t battle-tested yet. This is something potential buyers need to be aware of when 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 established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide the support of more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a fresh player in the market of hardware wallets, promising to be 100% safe due to its total isolation from any network or computer. Its creators are new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is in line with its competitors. While the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as easy for use like other wallets, and it’s an extremely new product on the market.