The cryptocurrency market has seen a significant increase in the number of hardware wallets available on the market in recent years, each promises that digital assets will be secure and safe. The Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure storage of digital assets becomes increasingly essential. The Ellipal wallet can be described as a device which keeps the private keys to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state they are completely safe, however it is important to note that the hardware wallets of competing firms like TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised system that is infected with viruses, your private keys are still secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the back of the. This makes it an extremely secure choice as it removes the possibility of hackers gaining access to the private key by an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it has not been battle-tested yet. This is something that potential buyers must be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide the support of more coins in the future.
In conclusion In conclusion, the Ellipal device is an fresh player in the market of hardware wallets, promising to be completely safe due to its total inaccessibility to any computer or network. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with its competitors. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the history and security measures of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly in use as the other hardware wallets. It’s also a relatively new product available on the market.