The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available on the market in recent years, all promises that digital assets will be safe and secure. The Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe the storage and protection of assets is becoming increasingly essential. The Ellipal wallet is a gadget which keeps the private keys to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews claim they are completely secure, however, it’s important to keep in mind that hardware wallets from rival firms like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised system which is infected by viruses Your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of a hacker having an access point to your private keys through the network. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it isn’t combat-tested to date. This is something potential buyers must keep in mind when considering purchasing the 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 proven track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern 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 has been a new player in the market for hardware wallets that claims that it is 100% secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag at $149 is comparable with its competitors. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallet options before making a decision. The final decision about whether the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as easy to use as other hardware wallets. Additionally, it’s a relatively new product available on the market.