The cryptocurrency market has seen an significant rise in the number of hardware wallets available on the market in recent years, each claims to keep digital assets safe and secure. Its Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal digital wallet device that stores the private key to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews claim they are completely secure, but it’s important to keep in mind that hardware wallets of rival companies like TREZOR and Ledger are also designed in a way that no one outside can view your private key. In the event that, for instance, the TREZOR is connected TREZOR with a compromised system that is infected with viruses your private keys remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it a highly secure choice as it removes the possibility of a hacker having gain access to private information via an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it’s not combat-tested to date. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were in business for a longer time and have a established track records of security.
In terms of support for coin, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is currently working on adding support for more coins in the future.
In the end it is clear that it is clear that the Ellipal wallet has been a brand new player in the market of hardware wallets that claims that it is 100% secure because of its complete separation from any computer or network. The company behind it is relatively new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is on par with its competitors. While the idea of a totally isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option with a unique design however, it’s not as user-friendly in use as the other hardware wallets, and it’s an all-new product available on the market.