The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware in recent years, all promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for safe security for digital asset storage becomes increasingly important. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The company’s website and reviews online claim the hardware wallet as 100% secure, but it’s important to remember that hardware wallets from rival businesses such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR on a compromised device which is infected by viruses Your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes via cameras on its back of the. This makes it a highly secure choice as it removes the possibility of a hacker getting access to the private key by a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it isn’t combat-tested to date. This is something that potential buyers should keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have a an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding support for more coins in the near future.
In the end it is clear that the Ellipal wallet is a new competitor in the market of hardware wallets and promises to be completely safe due to its total isolation from any network or computer. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with other wallets. Although the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallets prior to making a choice. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as easy to use as other hardware wallets. Additionally, it’s an all-new product on the market.