The cryptocurrency market has witnessed a significant increase in the amount of wallets that are hardware in recent years, all promises to keep digital assets safe and secure. The Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage becomes more important. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The website of the company and its reviews online claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets of rival businesses like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if you connect your TREZOR to a compromised device that has been infected with viruses, your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of hackers getting an access point to your private keys via the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it’s not combat-tested to date. This is something that potential buyers need to take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for longer and have proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to provide more support for coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an new player in the hardware wallet market and promises that it is 100% safe due to its total inaccessibility to any network or computer. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with the other options. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallet options before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as easy in use as the other hardware wallets. It’s also an extremely new product available on the market.