The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware in recent years, each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for secure the storage and protection of assets becomes more important. Ellipal wallet Ellipal digital wallet device which keeps the private keys to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets from rival businesses like TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR with a compromised device which is infected by viruses your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes via an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of hackers having access to the private key by an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it has not been tested in battle yet. This is something potential buyers need to take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for a longer time and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding support for more coins in the future.
In the end, the Ellipal wallet has been a new player on the market of hardware wallets that claims to be 100% secure because of its complete separation from any computer or network. Ellipal is a company that’s new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is in line with the other options. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with an innovative design, but it’s not as convenient to use as other wallets. It’s also an extremely new product available on the market.