The cryptocurrency market has seen a significant rise in the number of wallets that are hardware on the market in recent years, all claims that digital assets will be secure and safe. The Ellipal wallet is a new entrant in this field and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure storage of digital assets becomes more essential. The Ellipal wallet is a tool that stores the private key to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and reviews online claim the hardware wallet as completely secure, but it’s important to remember that hardware wallets of competing companies like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR with a compromised system that is infected with viruses your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes via a camera on the rear of the. This makes it a very secure choice as it removes the possibility of hackers getting an access point to your private keys via the network. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it’s not battle-tested yet. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for longer and have a established track records of security.
In terms of support for coin, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is working to add support for more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the market for hardware wallets that claims 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 yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with its competitors. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option with a unique design but it’s not as convenient in use as the other hardware wallets, and it’s an all-new product on the market.