The cryptocurrency market has witnessed a significant increase in the number of wallets that are hardware on the market in recent years, all promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure the storage and protection of assets becomes increasingly important. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews claim they are 100% secure, however, it’s important to keep in mind that hardware wallets from rival companies like TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. For instance, even if you connect your TREZOR with a compromised computer that has been infected with viruses Your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining an access point to your private keys through the network. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it isn’t battle-tested yet. This is something potential buyers need to be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have 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 currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with 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 more support for coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a new competitor in the market for hardware wallets and promises to be 100% safe due to its total separation from any computer or network. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is in line with other wallets. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other wallets before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as user-friendly in use as the other hardware wallets. It’s also a relatively new product that’s available.