The cryptocurrency market has seen an significant increase in the amount of hardware wallets in recent years, each promising to keep digital assets safe and secure. The Ellipal wallet is a new competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets becomes more crucial. The Ellipal digital wallet device which keeps the private keys to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund its development. The website of the company and its online reviews state the hardware wallet as completely safe, however it is important to note that the hardware wallets from rival firms such as TREZOR and Ledger are made in a way that no outside attacker can see your private keys. In the event that, for instance, you connect your TREZOR with a compromised system which is infected by viruses, your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes through a camera on the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker having access to the private key via a network connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it has not been combat-tested to date. This is something prospective buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been on the market for longer and have a proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to add more support for coins in the near future.
In the end, it is clear that the Ellipal wallet is a brand new player on the hardware wallet market, promising to be completely safe due to its total separation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and the price at $149 is comparable with its competitors. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets before making a decision. The final decision about whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy for use like other hardware wallets, and it’s a relatively new product that’s available.