The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets on the market in recent years. Each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets is becoming increasingly essential. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website and reviews online claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets from rival firms such as 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 it is possible to connect your TREZOR with a compromised device which is infected by viruses Your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it a very secure choice as it removes the possibility of hackers gaining access to the private key through a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it’s not combat-tested to date. This is something prospective buyers need to be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were around for longer and have proven 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 as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. However, the company is working to provide the support of more coins in the near future.
In the end, it is clear that the Ellipal device is an fresh player on the market of hardware wallets, promising to be 100% secure because of its complete separation from any network or computer. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with other wallets. Although the concept of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other wallets prior to making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other wallets, and it’s an extremely new product available on the market.