The cryptocurrency market has seen an significant rise in the number of hardware wallets available on the market in recent years, all claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes more essential. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key 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 company on the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of rival companies such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised computer which is infected by viruses your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes through an image camera at the rear end. This makes it an extremely secure option as it eliminates the possibility of hackers having access to the private key via a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it’s not combat-tested to date. This is something prospective buyers need to keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have a established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to provide more support for coins in the future.
In the end, the Ellipal device is an fresh player on the market of hardware wallets and promises to be completely safe due to its total isolation from any computer or network. Its creators are new, and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is on par with the other options. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy in use as the other hardware wallets. It’s also a relatively new product that’s available.