The cryptocurrency market has seen a significant increase in the amount of hardware wallets available in recent years, each claims that digital assets will be secure and safe. The Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure security for digital asset storage becomes more essential. It is the Ellipal wallet is a device which keeps the private keys to digital assets offline and prevents hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets of competing businesses such as TREZOR and Ledger are made in a way that no one outside can view your private key. 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 unique in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes via cameras on its rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker gaining access to the private key via the network. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it isn’t tested in battle yet. This is something prospective buyers must keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were in business for longer and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding more support for coins in the future.
In the end, it is clear that the Ellipal device is an fresh competitor in the market of hardware wallets that claims that it is 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 is currently compatible with a limited number of coins and the price of $149 is on par with other wallets. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallets prior to making a decision. The final decision about whether the Ellipal wallet is worth the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an extremely new product on the market.