The world of cryptocurrency has seen an significant increase in the amount of hardware wallets in recent years. Each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure security for digital asset storage is becoming increasingly important. Ellipal wallet Ellipal wallet can be described as a device which keeps the private keys to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state they are completely secure, however, it’s important to keep in mind that hardware wallets from rival businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. For example, even if it is possible to connect your TREZOR to a compromised system that has been infected with viruses your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it a very secure option as it eliminates the possibility of a hacker having gain access to private information by a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it’s not tested in battle yet. This is something that potential buyers should take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been around for longer and have an established track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to add the support of more coins in the future.
In the end, the Ellipal wallet has been a fresh player in the hardware wallet market, promising to be completely secure due to its complete inaccessibility to any computer or network. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with its competitors. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the track record and security measures of other wallets prior to making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a safe option with a unique design however, it’s not as easy to use as other wallets. Additionally, it’s an all-new product available on the market.