The cryptocurrency market has seen an significant rise in the number of hardware wallets available in recent years, each promises that digital assets will be safe and secure. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for safe security for digital asset storage is becoming increasingly important. The Ellipal wallet is a device that stores the private key to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews claim the hardware wallet as 100% secure, but it’s important to remember that hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For example, even if you connect your TREZOR on a compromised device which is infected by viruses your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes through cameras on its rear end. This makes it a very secure choice as it removes the possibility of a hacker having an access point to your private keys through the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use 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 brand new in the marketplace, which means that it isn’t tested in battle yet. This is something that potential buyers need to take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were around 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 supports only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the amount of 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 near future.
In the end, the Ellipal wallet has been a fresh player in the hardware wallet market that claims to be completely safe due to its total separation from any network or computer. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins and its price of $149 is in line with other wallets. While 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 hardware wallets before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other wallets. Additionally, it’s an all-new product on the market.