The cryptocurrency market has seen a significant increase in the amount of hardware wallets available on the market in recent years, all promises that digital assets will be secure and safe. The Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes increasingly important. The Ellipal digital wallet gadget which keeps the private keys to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim that their hardware wallet is completely safe, however it is important to remember that hardware wallets of rival companies like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised computer that is infected with viruses Your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its rear end. This makes it a very secure choice as it removes the possibility of a hacker getting access to the private key via a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it’s not combat-tested to date. This is something potential buyers should be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for a longer time and have a an established track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to add the support of more coins in the future.
In conclusion In conclusion, the Ellipal wallet has been a new competitor in the market for hardware wallets, promising that it is 100% safe due to its total separation from any computer or network. The company behind it is new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is on par with the other options. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s an extremely new product available on the market.