The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is a new entry into the market and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets becomes increasingly essential. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to finance its development. The website of the company and its reviews online claim that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets of competing companies such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses, your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes via cameras on its rear end. This makes it a very secure choice as it removes the possibility of a hacker getting an access point to your private keys through an internet connection. It’s important to note that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it has not been tested in battle yet. This is something prospective buyers should be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have a established track records of security.
Regarding support for coins, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to provide more support for coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a fresh player on the market for hardware wallets and promises that it is 100% safe due to its total separation from any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with the other options. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy in use as the other hardware wallets. It’s also an all-new product available on the market.