The cryptocurrency market has seen an significant increase in the number of wallets that are hardware in recent years, each claims to keep digital assets secure and safe. The Ellipal wallet is a brand new competitor in the field, and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets becomes more important. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state the hardware wallet as 100% secure, but it’s important to note that the hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised system that has been infected with viruses Your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes via cameras on its rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker getting access to the private key via a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware, 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 isn’t combat-tested to date. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have a established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding support for more coins in the near future.
In conclusion, the Ellipal device is an fresh competitor in the market of hardware wallets that claims to be 100% safe due to its total inaccessibility to any computer or network. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and its price of $149 is on par with its competitors. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with a unique design however, it’s not as easy to use as other hardware wallets. Additionally, it’s an all-new product that’s available.