The world of cryptocurrency has seen a significant increase in the number of hardware wallets available in recent years, all promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure security for digital asset storage becomes increasingly important. It is the Ellipal wallet is a gadget which keeps the private keys to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The company’s website and online reviews claim that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets from rival businesses like TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR to a compromised system that is infected with viruses your private keys remain secure and safe.
Ellipal is a unique wallet. 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 through a camera on the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker getting an access point to your private keys by an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it’s not combat-tested to date. This is something potential buyers must take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for a longer time and have a proven track record of security.
In terms of coin support, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add support for more coins in the near future.
In the end, the Ellipal wallet is a brand new player on the market for hardware wallets, promising to be completely secure due to its complete inaccessibility to any computer or network. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with other wallets. Although the concept of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other wallet options before making a decision. The final decision about whether the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy to use as other hardware wallets, and it’s an all-new product on the market.