The cryptocurrency market has seen an significant increase in the amount of hardware wallets available on the market in recent years. Each claims to keep digital assets safe and secure. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for safe the storage and protection of assets becomes increasingly important. It is the Ellipal wallet is a gadget that stores the private key to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim they are completely secure, however, it’s important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR on a compromised computer that is infected with viruses, your private keys remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using a camera on the rear of the. This makes it a very safe option since it blocks the possibility of a hacker getting an access point to your private keys via a network 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 to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it’s not combat-tested to date. This is something prospective buyers should be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were around for a longer time and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is currently working on adding the support of more coins in the near future.
In conclusion, it is clear that the Ellipal wallet has been a brand new player on the hardware wallet market that claims to be completely secure due to its complete isolation from any network or computer. Its creators are new, and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins, and its price tag at $149 is comparable with other wallets. Although the concept of a completely isolated hardware wallet is intriguing however, you should consider the history and security features of other hardware wallets before making a choice. The final decision about whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as easy in use as the other hardware wallets. It’s also an extremely new product available on the market.