The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware in recent years. Each promises that digital assets will be safe and secure. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes more essential. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. They raised $55K in the course of 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 completely secure, however, it’s important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are made in a way that no one outside can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device which is infected by viruses your private keys will remain safe and secure.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes using an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker gaining gain access to private information through a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it isn’t battle-tested yet. This is something prospective buyers need to take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were in business for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is working to add support for more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet is a new player on the market for hardware wallets that claims that it is 100% secure due to its complete isolation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins and the price of $149 is in line with the other options. Although the concept of a totally isolated hardware wallet is intriguing, it’s important to consider the history and security features of other hardware wallets prior to 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 a safe option with a unique design however, it’s not as easy to use as other wallets. It’s also an all-new product on the market.