The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, all claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure security for digital asset storage becomes more crucial. The Ellipal wallet can be described as a tool that stores the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR on a compromised device which is infected by viruses your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes using cameras on its rear of the. This makes it an extremely secure choice as it removes the possibility of hackers having access to the private key by an internet connection. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it’s not combat-tested to date. This is something that potential buyers must keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for longer and have an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is currently working on adding support for more coins in the future.
In the end, it is clear that the Ellipal wallet is a fresh player on the market of hardware wallets that claims that it is 100% safe due to its total inaccessibility to any network or computer. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a totally separated hardware wallet sounds appealing however, you should consider the track record and security measures of other wallets before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as easy for use like other hardware wallets, and it’s an all-new product that’s available.