The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets on the market in recent years, each promises that digital assets will be safe and secure. Its Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure storage of digital assets becomes more important. Ellipal wallet Ellipal wallet is a device that stores the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of competing companies such as TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. For example, even if you connect your TREZOR with a compromised computer that has been infected with viruses your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes using a camera on the back of the. This makes it a highly safe option since it blocks the possibility of hackers having gain access to private information through the network. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it’s not combat-tested to date. This is something prospective buyers must keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for a longer time and have a established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is currently working on adding more support for coins in the near future.
In the end, the Ellipal wallet has been a fresh player on the hardware wallet market and promises to be 100% secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s new, and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins and the price of $149 is in line with the other options. Although the idea of a totally isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallets prior to making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. Additionally, it’s a relatively new product that’s available.