The cryptocurrency market has seen a significant increase in the number of wallets that are hardware in recent years, all promises that digital assets will be secure and safe. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure security for digital asset storage becomes increasingly crucial. The Ellipal wallet can be described as a tool that keeps the private key to digital assets off-line to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The website of the company and its online reviews state they are completely safe, however it is important to remember that hardware wallets of rival companies like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. In the event that, for instance, it is possible to connect your TREZOR with a compromised system which is infected by viruses your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes via a camera on the rear end. This makes it a very safe option since it blocks the possibility of hackers gaining an access point to your private keys through an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it isn’t combat-tested to date. This is something that potential buyers need to take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been in business for a longer time and have a established track records of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to add more support for coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the market for hardware wallets that claims to be 100% secure because of its complete inaccessibility to any computer or network. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with the other options. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallets prior to making a decision. The final decision about whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option that has a modern design but it’s not as convenient in use as the other hardware wallets. It’s also a relatively new product available on the market.