The cryptocurrency market has seen an significant increase in the number 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 aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure the storage and protection of assets is becoming increasingly important. The Ellipal wallet is a gadget that keeps the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed 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 the development of their product. The website of the company and its online reviews state that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets of competing firms like TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. In the event that, for instance, you connect your TREZOR on a compromised system that has been infected with viruses your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of a hacker gaining an access point to your private keys by a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it’s not battle-tested yet. This is something that potential buyers should take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for a longer time and have a proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide support for more coins in the future.
In the end, the Ellipal device is an new player in the hardware wallet market that claims to be 100% safe due to its total separation from any computer or network. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is on par with other wallets. Although the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient to use as other wallets, and it’s a relatively new product available on the market.