The cryptocurrency market has seen an significant increase in the amount of hardware wallets available in recent years. Each promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage becomes more crucial. The Ellipal digital wallet device that stores the private key to digital assets offline, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website as well as online reviews state the hardware wallet as completely secure, but it’s important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are made in a way that no one outside can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised system which is infected by viruses, your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes using an image camera at the back of the. This makes it a very secure choice as it removes the possibility of hackers having gain access to private information through a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it’s not combat-tested to date. This is something potential buyers must be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for a longer time and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is currently working on adding the support of more coins in the near future.
In the end it is clear that the Ellipal wallet is a fresh player in the hardware wallet market and promises that it is 100% safe due to its total isolation from any network or computer. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is on par with the other options. 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 prior to making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as easy in use as the other wallets, and it’s an extremely new product that’s available.