The cryptocurrency market has witnessed an significant rise in the number of hardware wallets in recent years, each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe security for digital asset storage becomes more essential. The Ellipal digital wallet device which keeps the private keys to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to fund its development. The company’s website and online reviews state they are completely safe, however it is important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device that has been infected with viruses, your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes via a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of hackers gaining an access point to your private keys through a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it isn’t tested in battle yet. This is something prospective buyers must take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were in business for longer and have an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding support for more coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a new competitor in the market of hardware wallets that claims to be 100% secure because of its complete isolation from any network or computer. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is in line with the other options. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallets prior to making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. It’s also an all-new product on the market.