The cryptocurrency market has seen a significant increase in the number of hardware wallets on the market in recent years, all promises that digital assets will be safe and secure. The Ellipal wallet is a new entrant in this field and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets becomes more essential. Ellipal wallet Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to finance its development. The website of the company and its online reviews claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of competing companies such as TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised computer which is infected by viruses Your private keys remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates through QR codes through a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of hackers having access to the private key via an internet connection. It’s important to note that this means the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it isn’t battle-tested yet. This is something potential buyers must keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are around for longer and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to add more support for coins in the future.
In the end, the Ellipal wallet has been a fresh player in the market of hardware wallets, promising to be 100% safe due to its total separation from any network or computer. Ellipal is a company that’s new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is on par with its competitors. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is entirely up to the user. It’s a safe option that has a modern design however, it’s not as easy for use like other hardware wallets, and it’s an extremely new product on the market.