The cryptocurrency market has witnessed an significant increase in the number of hardware wallets on the market in recent years, each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure the storage and protection of assets becomes increasingly important. The Ellipal wallet is a device that keeps the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to 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 remember that hardware wallets of rival companies like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For example, even if the TREZOR is connected TREZOR on a compromised system 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, meaning it has no wireless or wired connections. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting an access point to your private keys via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple 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 prospective buyers should take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is currently working on adding more support for coins in the future.
In the end it is clear that it is clear that the Ellipal device is an new player in the hardware wallet market and promises to be 100% safe due to its total inaccessibility to any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with its competitors. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly for use like other wallets. It’s also an extremely new product that’s available.