The world of cryptocurrency has witnessed a significant increase in the amount of wallets that are hardware in recent years, all promises to keep digital assets secure and safe. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for secure the storage and protection of assets is becoming increasingly crucial. The Ellipal wallet is a gadget that stores the private key to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets from rival firms like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR with a compromised device that is infected with viruses, your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it a very secure option as it eliminates the possibility of a hacker getting an access point to your private keys through the network. However, it’s important to remember that this could mean 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 relatively new to the market, which implies that it’s not combat-tested to date. This is something that potential buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is currently working on adding more support for coins in the future.
In the end it is clear that the Ellipal wallet is a new player on the market for hardware wallets and promises to be completely safe due to its total inaccessibility to any computer or network. The company behind it is relatively new and the product has not been tested in battle 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 other wallets. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record measures of other wallet options before making a choice. The final decision about whether the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s a relatively new product on the market.