The world of cryptocurrency has seen a significant increase in the number of hardware wallets available in recent years. Each claims to keep digital assets secure and safe. The Ellipal wallet is a brand new entry into the market and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets becomes increasingly important. The Ellipal wallet is a tool that stores the private key to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews claim the hardware wallet as 100% secure, but it’s important to remember that hardware wallets of competing firms like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer that is infected with viruses your private keys remain protected and safe.
Ellipal is a unique wallet. 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 transmits QR codes via a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker having an access point to your private keys via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something prospective buyers must be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are in business for longer and have proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is currently working on adding support for more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a brand new competitor in the hardware wallet market that claims to be completely secure because of its complete separation from any computer or network. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is on par with its competitors. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as easy for use like other hardware wallets. It’s also an extremely new product available on the market.