The cryptocurrency market has seen an significant increase in the amount of hardware wallets available on the market in recent years, each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe the storage and protection of assets becomes more important. The Ellipal wallet can be described as a tool that keeps the private key to digital assets offline to prevent hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund its development. The website of the company and its online reviews state that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of rival firms like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For example, even if it is possible to connect your TREZOR on a compromised device that has been infected with viruses your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through a camera on the rear of the. This makes it a highly secure option as it eliminates the possibility of hackers getting an access point to your private keys by the network. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it’s not combat-tested to date. This is something prospective buyers must keep in mind when considering purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have established track records of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add the support of more coins in the near future.
In the end In conclusion, the Ellipal wallet is a fresh player in the market for hardware wallets that claims to be 100% safe due to its total isolation from any computer or network. Its creators are new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is in line with the other options. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the track record and security measures of other wallet options before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with a unique design but it’s not as convenient to use as other hardware wallets. It’s also a relatively new product on the market.