The cryptocurrency market has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years. Each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure the storage and protection of assets becomes more crucial. The Ellipal wallet is a gadget that keeps the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. It raised $55K through an Indiegogo campaign to finance its development. The company’s website and reviews online claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised system that has been infected with viruses your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes using a camera on the back of the. This makes it a highly secure choice as it removes the possibility of a hacker having an access point to your private keys by the network. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it’s not tested in battle yet. This is something prospective buyers need to keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer 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 currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is working to provide the support of more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player on the market for hardware wallets and promises that it is 100% secure due to its complete separation from any network or computer. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is in line with its competitors. Although the idea of a completely separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets prior to making a choice. The final decision about whether the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with a unique design but it’s not as convenient in use as the other hardware wallets. It’s also a relatively new product on the market.