The cryptocurrency market has seen a significant increase in the number of hardware wallets on the market in recent years. Each claims that digital assets will be secure and safe. The Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets becomes more important. It is the Ellipal wallet is a gadget that stores the private key to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware 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 the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of competing companies like TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses your private keys are still protected and safe.
Ellipal is a unique wallet. 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 using an image camera at the rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining gain access to private information by a network connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it’s not tested in battle yet. This is something potential buyers should keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been in business 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 currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to provide more support for coins in the future.
In the end, it is clear that the Ellipal wallet has been a new player on the market of hardware wallets and promises to be 100% 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 yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is in line with other wallets. While the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other hardware wallets. It’s also an all-new product on the market.