The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets available on the market in recent years. Each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure storage of digital assets becomes increasingly important. It is the Ellipal wallet is a device that keeps the private key to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews state they are completely secure, but it’s important to keep in mind that hardware wallets of rival firms like TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if you connect your TREZOR with a compromised device that is infected with viruses your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes via an image camera at the rear end. This makes it an extremely secure option as it eliminates the possibility of hackers gaining gain access to private information via a network connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it has not been battle-tested yet. This is something prospective buyers must be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been on the market for longer and have a proven track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of 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 the support of more coins in the near future.
In the end, the Ellipal device is an fresh competitor in the hardware wallet market and promises to be 100% secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with the other options. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallets prior to making a decision. The final decision about whether the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other wallets, and it’s a relatively new product that’s available.