The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets available in recent years, each claims to keep digital assets secure and safe. The Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure storage of digital assets becomes increasingly essential. The Ellipal digital wallet device that keeps the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of rival companies like TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. In the event that, for instance, it is possible to connect your TREZOR with a compromised device that has been infected with viruses your private keys are still secure and safe.
The 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 through a camera on the rear of the. This makes it a highly safe option since it blocks the possibility of a hacker getting an access point to your private keys via a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it isn’t battle-tested yet. This is something prospective buyers must be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for a longer time and have a an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add support for more coins in the near future.
In the end In conclusion, the Ellipal wallet is a fresh competitor in the hardware wallet market that claims that it is 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s new, and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with the other options. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy in use as the other wallets. It’s also an extremely new product that’s available.