The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware in recent years, all promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe the storage and protection of assets becomes more essential. Ellipal wallet Ellipal digital wallet gadget that stores the private key to digital assets off-line to prevent hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state they are completely secure, but it’s important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR to a compromised computer which is infected by viruses your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes using cameras on its rear end. This makes it a very safe option since it blocks the possibility of a hacker gaining gain access to private information by an internet connection. It’s important to note that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it’s not battle-tested yet. This is something potential buyers must keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is working to provide support for more coins in the near future.
In the end, the Ellipal wallet has been a brand new competitor in the hardware wallet market that claims to be completely secure because of its complete inaccessibility to any network or computer. Its creators are relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and its price of $149 is on par with other wallets. Although the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other wallets before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other hardware wallets. It’s also a relatively new product available on the market.