The cryptocurrency market has witnessed a significant rise in the number of hardware wallets in recent years. Each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency is becoming more widespread, the need for safe security for digital asset storage becomes increasingly crucial. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young 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 website of the company and its reviews online claim that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of competing companies like TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer which is infected by viruses, your private keys remain safe and secure.
The Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes using an image camera at the back of the. This makes it an extremely secure option as it eliminates the possibility of hackers gaining an access point to your private keys through the network. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it’s not tested in battle yet. This is something that potential buyers must take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. The company is working to provide the support of more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a brand new competitor in the market for hardware wallets that claims to be completely secure because of its complete isolation from any network or computer. Its creators are relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is on par with its competitors. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallets before making a choice. The final decision about whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a very secure option that has a modern design but it’s not as convenient in use as the other hardware wallets, and it’s an extremely new product on the market.