The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware in recent years, each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe the storage and protection of assets becomes more important. Ellipal wallet Ellipal digital wallet gadget that keeps the private key to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund its development. The website of the company and its reviews online claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no one outside can view your private key. For example, even if it is possible to connect your TREZOR to a compromised computer which is infected by viruses your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker getting an access point to your private keys via a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it’s not battle-tested yet. This is something that potential buyers should take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have a established track records of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to provide more support for coins in the future.
In the end it is clear that it is clear that the Ellipal device is an fresh player in the hardware wallet market, promising that it is 100% safe due to its total inaccessibility to any network or computer. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is in line with other wallets. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the history and security measures of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a safe option with a unique design but it’s not as convenient for use like other hardware wallets, and it’s an extremely new product available on the market.