The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware in recent years, each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes more essential. It is the Ellipal wallet is a gadget which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of competing businesses such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised computer which is infected by viruses your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes via cameras on its rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining access to the private key via the network. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it’s not tested in battle yet. This is something potential buyers must keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for a longer time and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide more support for coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a new player in the hardware wallet market and promises to be completely safe due to its total inaccessibility to any network or computer. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price of $149 is in line with other wallets. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice with a unique design but it’s not as convenient to use as other wallets. Additionally, it’s a relatively new product on the market.