The cryptocurrency market has seen an significant rise in the number of hardware wallets available in recent years. Each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, 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 storage of digital assets is becoming increasingly important. The Ellipal wallet is a tool which keeps the private keys to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The website of the company and its online reviews claim the hardware wallet as completely secure, but it’s important to note that the hardware wallets of competing firms such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. For example, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses Your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of hackers having an access point to your private keys via an internet connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it has not been tested in battle yet. This is something potential buyers should take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding the support of more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a brand new player on the market for hardware wallets and promises to be 100% secure due to its complete separation from any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other hardware wallets. It’s also an extremely new product on the market.