The cryptocurrency market has witnessed a significant increase in the amount of wallets that are hardware on the market in recent years. Each promises to keep digital assets safe and secure. The Ellipal wallet is a new entry into the market and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe storage of digital assets is becoming increasingly important. It is the Ellipal wallet is a tool that keeps the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim they are completely secure, but it’s important to note that the hardware wallets from rival firms like TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. For instance, even if the TREZOR is connected TREZOR with a compromised computer which is infected by viruses your private keys are still secure and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having gain access to private information by an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it’s not battle-tested yet. This is something that potential buyers need to be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have a established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is currently working on adding the support of more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a fresh player in the market for hardware wallets that claims to be completely secure because of its complete isolation from any network or computer. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with the other options. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other wallet options before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as easy to use as other hardware wallets. It’s also a relatively new product available on the market.