The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware in recent years, each claims to keep digital assets safe and secure. The Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage becomes increasingly essential. The Ellipal wallet is a device that stores the private key to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews state that their hardware wallet is completely safe, however it is important to remember that hardware wallets of competing companies like TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR with a compromised computer that is infected with viruses Your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes via an image camera at the rear end. This makes it a very secure choice as it removes the possibility of a hacker getting access to the private key by a network connection. It’s important to note that this means the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it has not been tested in battle yet. This is something potential buyers should be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been on the market for a longer time and have a proven track record of security.
Regarding support for coins, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to add support for more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal device is an brand new competitor in the market for hardware wallets, promising to be 100% secure because of its complete isolation from any network or computer. The company behind it is relatively new, and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is on par with other wallets. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy for use like other hardware wallets, and it’s an all-new product that’s available.