The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware in recent years, all promises to keep digital assets secure and safe. The Ellipal wallet is a brand new entry into the market and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe security for digital asset storage becomes increasingly essential. It is the Ellipal digital wallet tool that keeps the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim that their hardware wallet is 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 one outside can access your private keys. For example, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses, your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes through a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker getting gain access to private information through an internet connection. It’s important to note that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it has not been battle-tested yet. This is something that potential buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are around for longer and have an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is working to provide more support for coins in the near future.
In the end, the Ellipal device is an new player in the hardware wallet market, promising to be 100% secure because of its complete inaccessibility to 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 the use of a small number of coins and its price of $149 is on par with other wallets. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallets before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as easy for use like other hardware wallets, and it’s an extremely new product available on the market.