The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets available in recent years. Each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure security for digital asset storage becomes more crucial. The Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of rival firms such as TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised computer that has been infected with viruses, your private keys are still protected and safe.
Its Ellipal wallet is unique 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 via a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of hackers having gain access to private information via the network. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it’s not combat-tested to date. This is something that potential buyers should take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add the support of more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player on the market of hardware wallets and promises that it is 100% safe due to its total separation from any computer or network. The company behind it is relatively 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 of $149 is on par with its competitors. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the history and security measures of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a safe option with an innovative design, however, it’s not as user-friendly to use as other wallets. Additionally, it’s an extremely new product available on the market.