The cryptocurrency market has witnessed a significant rise in the number of hardware wallets in recent years, all promises that digital assets will be secure and safe. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure security for digital asset storage becomes increasingly crucial. Ellipal wallet Ellipal wallet is a device that stores the private key to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The website of the company and its reviews online claim the hardware wallet as completely secure, but it’s important to note that the hardware wallets of rival businesses such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if you connect your TREZOR on a compromised computer that has been infected with viruses your private keys remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the rear end. This makes it a very secure option as it eliminates the possibility of a hacker gaining access to the private key through an internet connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it isn’t tested in battle yet. This is something potential buyers need to be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are around for longer and have established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to provide more support for coins in the future.
In conclusion it is clear that the Ellipal device is an new player on the hardware wallet market and promises that it is 100% safe due to its total inaccessibility to any network or computer. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is on par with the other options. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s a relatively new product that’s available.