The world of cryptocurrency has seen an significant rise in the number of hardware wallets available in recent years. Each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe security for digital asset storage becomes increasingly important. The Ellipal digital wallet gadget that keeps the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of competing businesses such as TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised system which is infected by viruses, your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker gaining gain access to private information via an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something that potential buyers must take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were around for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is currently working on adding support for more coins in the near future.
In conclusion, the Ellipal device is an fresh competitor in the hardware wallet market, promising to be 100% secure because of its complete separation from any computer or network. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins and the price of $149 is in line with other wallets. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with a unique design however, it’s not as user-friendly for use like other hardware wallets, and it’s an all-new product on the market.