The world of cryptocurrency has witnessed a significant increase in the amount of wallets that are hardware on the market in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal digital wallet gadget that stores the private key to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website as well as online reviews claim that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of rival firms such as TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised device which is infected by viruses your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes via a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker having an access point to your private keys through a network connection. It’s important to note that this means the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it isn’t tested in battle yet. This is something prospective buyers should keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were in business for longer and have a an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide more support for coins in the near future.
In conclusion it is clear that the Ellipal wallet is a new player in the market of hardware wallets, promising to be 100% secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with the other options. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the history and security features of other hardware wallet options before making a choice. The final decision about whether the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly in use as the other wallets, and it’s an extremely new product that’s available.