The cryptocurrency market has seen a significant rise in the number of wallets that are hardware in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is a new entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure the storage and protection of assets becomes more essential. Ellipal wallet Ellipal digital wallet gadget which keeps the private keys to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews state that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to access 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 are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through an image camera at the back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having gain access to private information through a network connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it’s not battle-tested yet. This is something prospective buyers should take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for a longer time and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to provide the support of more coins in the future.
In the end, it is clear that the Ellipal wallet is a new player on the market of hardware wallets, promising to be 100% secure because of its complete isolation from any computer or network. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with its competitors. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other wallets prior to making a choice. The final decision about whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option with a unique design however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s an all-new product that’s available.