The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware on the market in recent years. Each promising to keep digital assets safe and secure. 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 the use of cryptocurrency is becoming more widespread, the need for secure the storage and protection of assets becomes more important. The Ellipal digital wallet gadget that stores the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state they are 100% secure, however, it’s important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if you connect your TREZOR with a compromised computer that has been infected with viruses Your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers getting gain access to private information by an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it’s not combat-tested to date. This is something prospective buyers should be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were in business for a longer time and have a proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. The company is working to provide more support for coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a new competitor in the market of hardware wallets, promising that it is 100% safe due to its total isolation from any computer or network. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with its competitors. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the history and security features of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient for use like other wallets. Additionally, it’s an all-new product that’s available.