The world of cryptocurrency has seen an significant increase in the amount of hardware wallets available on the market in recent years. Each claims that digital assets will be secure and safe. The Ellipal wallet is a new entry into the market and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets becomes increasingly crucial. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline 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 an Indiegogo campaign to fund its development. The website of the company and its online reviews claim that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of rival businesses such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR on a compromised device which is infected by viruses your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes via an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker having access to the private key via a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it isn’t tested in battle yet. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are around for longer and have an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to provide the support of more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal device is an new player in the hardware wallet market that claims that it is 100% secure due to its complete isolation from any computer or network. Its creators are new and the product has not 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 other wallets. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option with a unique design however, it’s not as user-friendly for use like other hardware wallets, and it’s an all-new product on the market.