The cryptocurrency market has seen an significant increase in the number of hardware wallets in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a gadget which keeps the private keys to digital assets indefinitely, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets from rival companies such as TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR to a compromised computer which is infected by viruses your private keys are still secure and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes via cameras on its rear end. This makes it a very safe option since it blocks the possibility of hackers having access to the private key via the network. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it’s not combat-tested to date. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) were on the market for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding the support of more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the market of hardware wallets that claims to be completely secure due to its complete inaccessibility to any network or computer. Its creators are relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with other wallets. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallet options before making a decision. The final decision about whether the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as easy for use like other wallets, and it’s a relatively new product available on the market.