The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets on the market in recent years. Each claims to keep digital assets safe and secure. Its Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for secure storage of digital assets becomes more crucial. It is the Ellipal wallet is a device which keeps the private keys to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The company’s website as well as online reviews state they are completely safe, however it is important to keep in mind that hardware wallets of rival companies such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR to a compromised computer which is infected by viruses your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining gain access to private information by an internet connection. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it’s not combat-tested to date. This is something prospective buyers should take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for longer and have established track records of security.
In terms of support for coin, the Ellipal wallet supports only a small number of coins which include 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 users. However, the company is working to provide support for more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new player on the market for hardware wallets and promises to be completely safe due to its total inaccessibility to any computer or network. Its creators are new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is in line with other wallets. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the track record and security features of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option with a unique design however, it’s not as user-friendly in use as the other wallets. It’s also an all-new product that’s available.