The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets available in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe the storage and protection of assets becomes increasingly essential. The Ellipal wallet can be described as a tool that stores the private key to digital assets offline to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews claim that their hardware wallet is completely secure, however, it’s important to note that the 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 see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device which is infected by viruses your private keys are still secure and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through a camera on the rear of the. This makes it a very safe option since it blocks the possibility of a hacker getting an access point to your private keys via an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it isn’t combat-tested to date. This is something that potential buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are in business for a longer time and have a an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is working to provide more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet is a new competitor in the market of hardware wallets that claims to be 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with its competitors. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option that has a modern design but it’s not as convenient in use as the other wallets. Additionally, it’s an extremely new product available on the market.