The cryptocurrency market has seen an significant increase in the number of hardware wallets on the market in recent years. Each promises to keep digital assets secure and safe. Its Ellipal wallet is a new entrant in this field and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure security for digital asset storage becomes increasingly crucial. The Ellipal wallet is a tool which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website and reviews online claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For instance, even if you connect your TREZOR to a compromised computer that is infected with viruses, your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes using an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of a hacker getting an access point to your private keys by the network. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it has not been combat-tested to date. This is something potential buyers should keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have an established track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is currently working on adding more support for coins in the near future.
In conclusion, it is clear that the Ellipal wallet has been a new player on the market for hardware wallets, promising to be 100% safe due to its total separation from any computer or network. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with other wallets. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallets prior to making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option that has a modern design however, it’s not as easy in use as the other wallets. Additionally, it’s an extremely new product available on the market.