The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware on the market in recent years, each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage becomes more crucial. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website and reviews online claim the hardware wallet as completely safe, however it is important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised computer which is infected by viruses your private keys remain secure and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes using a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers gaining an access point to your private keys via the network. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it’s not combat-tested to date. This is something potential buyers should keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for a longer time and have a an established track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to add the support of more coins in the future.
In conclusion, the Ellipal wallet is a brand new player on the market of hardware wallets, promising to be 100% safe due to its total inaccessibility to any computer or network. Ellipal is a company that’s relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with the other options. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the security and track record measures of other wallet options before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as easy for use like other wallets. Additionally, it’s an extremely new product available on the market.