The cryptocurrency market has seen a significant increase in the number of hardware wallets available on the market in recent years. Each claims that digital assets will be secure and safe. The Ellipal wallet is a brand 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, the need for safe storage of digital assets becomes more important. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews state they are completely secure, however, it’s important to note that the hardware wallets from rival firms 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, you connect your TREZOR to a compromised system which is infected by viruses, your private keys remain safe and secure.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes through an image camera at the rear of the. This makes it a highly safe option since it blocks the possibility of hackers getting gain access to private information by a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it has not been tested in battle yet. This is something prospective buyers must take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were on the market for longer and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports the following coins: a few 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 might be a worry for some customers. However, the company is working to provide support for more coins in the future.
In the end it is clear that the Ellipal wallet is a fresh player on the market of hardware wallets, promising to be 100% safe due to its total separation from any network or computer. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is in line with the other options. While the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as easy for use like other wallets, and it’s an extremely new product on the market.