The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets on the market in recent years, each promises that digital assets will be secure and safe. Its Ellipal wallet is a new entry into the market 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 storage of digital assets becomes increasingly crucial. It is the Ellipal wallet can be described as a tool that keeps the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state they are 100% safe, however it is important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR on a compromised device which is infected by viruses your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it a very safe option since it blocks the possibility of hackers gaining gain access to private information through an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t 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 fairly brand new in the marketplace, meaning that it isn’t combat-tested to date. This is something potential buyers should be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were in business for a longer time and have a proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to provide support for more coins in the near future.
In the end it is clear that it is clear that the Ellipal device is an fresh player in the market of hardware wallets and promises to be 100% safe due to its total separation from any computer or network. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is on par with the other options. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the individual. It’s a safe option with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. It’s also an all-new product that’s available.