The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware in recent years, all promises that digital assets will be secure and safe. The Ellipal wallet is a brand new entrant in this field and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure security for digital asset storage becomes more important. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing their assets 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 fund research and development for their products. The website of the company and its reviews online claim that their hardware wallet is completely secure, but it’s important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised system that has been infected with viruses Your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes using an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of hackers gaining an access point to your private keys through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it has not been combat-tested to date. This is something prospective buyers must take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are in business for longer and have proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide the support of more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet is a fresh player on the hardware wallet market and promises to be completely secure due to its complete isolation from any network or computer. Its creators are 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 its price tag of $149 is on par with the other options. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets before making a decision. The final decision about whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option with a unique design but it’s not as convenient to use as other hardware wallets, and it’s a relatively new product on the market.