The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware 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 is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for secure the storage and protection of assets becomes increasingly important. It is the Ellipal digital wallet gadget that keeps the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website as well as online reviews claim they are 100% secure, but it’s important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are made in a way that no outside attacker can see 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.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes via 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 by the network. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it’s not tested in battle yet. This is something that potential buyers need to take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are around for a longer time and have a established track records of security.
Regarding support for coins, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is currently working on adding support for more coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal device is an new player in the hardware wallet market and promises to be completely safe due to its total inaccessibility to any computer or network. Its creators are new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with its competitors. Although the idea of a totally isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design but it’s not as convenient in use as the other hardware wallets, and it’s a relatively new product available on the market.