The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware on the market in recent years, each promising to keep digital assets secure and safe. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for safe security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews claim the hardware wallet as completely safe, however it is important to remember that hardware wallets from rival businesses such as TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR on a compromised device that has been infected with viruses your private keys remain protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via cameras on its rear end. This makes it a very secure option as it eliminates the possibility of a hacker having gain access to private information by a network connection. However, it’s worth noting 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 retails for $149. It is relatively recent to market meaning that it’s not tested in battle yet. This is something potential buyers need to keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have proven track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add support for more coins in the near future.
In conclusion, the Ellipal device is an fresh competitor in the market for hardware wallets and promises to be 100% secure due to its complete isolation from any computer or network. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is in line with the other options. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the individual. It’s a safe option with a unique design however, it’s not as easy for use like other hardware wallets. It’s also a relatively new product available on the market.