The cryptocurrency market has seen an significant increase in the amount of hardware wallets on the market in recent years, each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal digital wallet gadget that stores the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of rival companies like TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For example, even if you connect your TREZOR with a compromised device which is infected by viruses, your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes via a camera on the rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining gain access to private information via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it has not been tested in battle yet. This is something that potential buyers must keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have a established track records of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. However, the company is currently working on adding support for more coins in the future.
In the end it is clear that the Ellipal wallet is a new player on the hardware wallet market and promises to be completely secure due to its complete separation from 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 only a few coins, and its price tag of $149 is in line with the other options. While the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product on the market.