The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets available in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure the storage and protection of assets becomes more important. The Ellipal wallet can be described as a device that keeps the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews claim that their hardware wallet is completely safe, however it is important to remember that hardware wallets from rival firms such as TREZOR and Ledger are constructed in a manner that no one outside can view your private key. In the event that, for instance, it is possible to connect your TREZOR on a compromised system which is infected by viruses, your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using cameras on its back of the. This makes it a highly secure option as it eliminates the possibility of hackers gaining an access point to your private keys through an internet connection. It’s important to note that this could mean 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 costs $149 and is fairly brand new in the marketplace, which implies that it’s not combat-tested to date. This is something that potential buyers must be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have a established track records of security.
In terms of support for coin, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry 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 the Ellipal wallet has been a fresh player in the hardware wallet market, promising to be 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with the other options. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallet options before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy to use as other wallets, and it’s an all-new product on the market.