The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets on the market in recent years, all promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure storage of digital assets becomes more important. It is the Ellipal wallet is a device which keeps the private keys to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews claim they are completely secure, but it’s important to keep in mind that hardware wallets from rival firms like TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if the TREZOR is connected 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 distinctive in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes using a camera on the rear end. This makes it a highly safe option since it blocks the possibility of hackers getting gain access to private information through a network connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it isn’t tested in battle yet. This is something potential buyers need to take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for longer and have an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. 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 has been a brand new player on the market for hardware wallets, promising to be 100% secure due to its complete separation from any network or computer. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with other wallets. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the track record and security measures of other wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy in use as the other wallets, and it’s an all-new product on the market.